A North West contractor fell into administration owing creditors over £4.25m and with debts of over £6.2m, new documents have revealed.
Nobles Construction entered administration in June and according to an update filed to Companies House, the business owed money to dozens of organisations and individuals – including around £570,000 in employee claims.
The statement of affairs published online this week by administrator MB Insolvency revealed that the Wavertree-based company owed £4.25m to trade and expense creditors.
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The document added that the firm’s assets were in the region of £3m – although that included over £2.7m owed to it by clients in book debts and disputed retentions.
Nobles Construction, which employed around 60 people, fell into administration after its managing director Sean O’Connor last year claimed it had been refused a Coronavirus Business Interruption Loan required to bring back staff from furlough and continue trading.
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According to Construction News, the application was for a £500,000 loan.
In its last filed accounts, it reported a turnover of £24.5m over an 18-month period to March 2019, with an operating profit of around £210,000.
Last year, it had confirmed orders worth around £100m.
Earlier this year, the firm was involved in a dispute with Newcastle developer High Street Group after it stopped working on the £49m ‘Cheshire Junction’ scheme in Warrington.
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Suppliers owed the largest sums in the statement of affairs published this week include Ottima, a joinery firm based in Sussex owed £400,738; Birmingham-based contractor Project Developments which is owed £369,324; and McNally & Thompson – a North East-based electrical firm owed over £524,000.
Founded in 1995, Nobles Construction’s portfolio includes work on Liverpool’s Bluecoat School, the Royal Albert Dock and the Epstein Theatre, across sectors from residential to leisure.