Construction News

Tue January 18 2022

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NMCN creditors to lose £115m

6 days Creditors of NMCN are out of pocket to the tune of £115m, with plant hire companies and materials suppliers among the worst hit.

NMCN collapsed into administration in October 2021 with debts at the time estimated to be £60m. But an updated statement filed by administrators from Grant Thornton last month reveals that unsecured debts have reached £115.3m.

HM Revenue & Customs is owed £12m, employees are owed £2.4m, finance company Lombard North Central is owed £4.2m and Svella, the investment company that was ready to rescue NMCN before its collapse, is owed £12.7m. Then there are the 2,380 supplier claimants, who are collectively owed £69.7m.

The supplier claimants include several plant hire companies, with Sunbelt, GAP, Speedy, Selwood and VP all losing six-figure sums (see below).

Materials suppliers also feature prominently in the list of unfortunate creditors. Aggregate Industries and Keyline Builders are both owed more than half a million pounds.

Related Information

The list below of NMCN’s unsecured creditor is far from complete and merely illustrative of the sort of amounts lost by suppliers. In some cases, the totals represent the sum of two or more entries on the creditor list.

Plant hire

  • Sunbelt Rentals £284,000
  • GAP Group £231,000
  • Speedy £166,000
  • Selwood £165,000
  • VP £116,000
  • Boels Rental £31,000
  • Generator Power £56,000
  • L Lynch Plant Hire £55,000
  • Falcon Tower Crane Services £43,000
  • Maybe Hire £29,000
  • Welfare Hire Nationwide £28,000
  • Bryn Thomas Cranes £17,000
  • Marsh Plant Hire £15,000
  • Brandon Hire £12,000

Materials

  • Aggregate Industries £527,000
  • Keyline £508,000
  • Stonepave £492,000
  • Breedon Trading £290,000
  • Wolseley £232,000
  • Cemex £157,000
  • Grafton Merchanting £152,000
  • Saint Gobain £116,000
  • Total Aggregates £43,000
  • Howdens Joinery £35,000
  • Screwfix £33,000

Others

  • AFS Earthmoving & Aggregates £722,000
  • P&R Morson £497,000
  • KPMG £497,000
  • Highcross Building Services £488,000
  • Fortis Contracting £429,000
  • Sheet Piling UK £398,000
  • De Havilland Fabrication & Welding £370,000
  • Direct Traffic Management £303,000
  • JMH Directional Drilling £389,000
  • Ernst & Young £300,000
  • Construction Industry Training Board £202,000
  • FP McCann £150,000

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MPU

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