Employees were informed on Friday 24th July that they were being let go.
Local press reports indicate that KPMG is set to handle the administration following the filing of a notice of intent to appoint administrators.
Cruden Construction is the latest in a line of failures in the northwest region recently, following CPUK Group, Bardsley Construction, Pochin's and Harry Fairclough.
Cruden Construction Limited is based in Warrington and in the year to 30th September 2018 it made an operating loss of nearly £2.3m on a turnover of £38m.
Parent company Cruden Group Ltd lost £3.5m on £54m turnover.
Both are ultimately owned by Headcrown Group Plc, which is owned by Carl Brian, Cruden’s chairman. Other companies in the group are JF Finnegan, based in Sheffield, and Gee Group in Essex.
.png)
One Cruden employee posted on LinkedIn: "Friday was a very sad and on the whole an extremely strange day, for myself and all my work family at Cruden. I would like to wish everyone at Cruden the best of luck in finding a new role in the coming days and weeks. It’s been a real pleasure to of worked with you all during my time at Cruden."
The Cheshire Cruden is not connected to the £200m turnover Scottish company Cruden Holdings Limited.
Kevin Reid, chief executive of Scottish Cruden, said: "We are sorry to hear of this company going into administration, however it is important to make it clear that this is an entirely separate business to our own. It was sold to Headcrown Group plc more than 30 years ago and has had no connection to our own business since then. The Cruden Group of companies in Scotland, which is headed by Cruden Holdings Limited, and which includes Cruden Investments, Cruden Homes, Cruden Building and Hart Builders is very secure financially, with a strong forward order book in all divisions. We have recently announced a number of new contract wins across the Group and made several senior appointments. Despite the economic environment, we remain very positive about the future and anticipate the Group continuing its unbroken run of 21 years of profitability.”
We have asked for, but yet to receive, comment from Cheshire's Cruden and Headcrown.
Got a story? Email news@theconstructionindex.co.uk
