A construction firm, Caldwell Construction Limited, has gone into administration, endangering more than 400 jobs. The company, established in 2007 and specializing in groundworks and civil engineering, has enlisted administrators from PKF Littlejohn Advisory. Despite reporting a turnover of £58.4 million last year, the company faced operational challenges, leading to cashflow strain. Paul Smith from PKF Littlejohn Advisory highlighted the tough conditions in the construction industry, marked by rising costs and market uncertainties.
Efforts by the advisory team to explore solutions for Caldwell proved futile, resulting in the decision to enter insolvency. Joint Administrator Oliver Collinge emphasized the focus on supporting employees and stakeholders during the assessment of the company’s assets. This collapse follows the recent administration of Consumer Energy Solutions in south Wales, affecting nearly 300 employees. The energy provider ceased trading abruptly, leaving affected staff in distress just before the holiday season.
Consumer Energy Solutions cited the conclusion of a government-backed scheme as the reason for restructuring and job cuts. The initiative, aimed at promoting energy-efficient home upgrades, is nearing its end. The company confirmed the appointment of administrators and its inability to undertake further customer projects. Importantly, the administration is specific to Consumer Energy Solutions and does not involve other entities in the City Energy Group.
