More than 80 employees who remained on furlough leave after the company went into administration last month have now been made redundant.
Steven Muncaster and Sarah Bell of Duff & Phelps were appointed joint administrators of Construction Partnership UK (CPUK) on 24th April 2020.
After initially marketing the business and assets of the company with a view to achieving a sale as a going concern, it was rapidly evident that – given the ongoing coronavirus pandemic, the lack of any real tangible asset base and the fact that all live sites had been handed back to clients – a sale was not going to happen.
Duff & Phelps managing Director Steven Muncaster said: “Five employers had served formal determination of the contract in place with CPUK and several others were likely to follow. These combined factors brought us to the conclusion on 29th April 2020 that unfortunately a going concern sale of the business was not going to be achievable.”
The administrators said that they could no longer make use of the coronavirus job retention scheme for furloughed staff and so had to make all staff redundant.