A prominent construction firm in the UK has entered administration. FK Construction, based in Greater Manchester, has appointed administrators as part of the FK Group, which faced administration last month.
BTG, previously known as Begbies Traynor Group, disclosed that two of its staff have been assigned as administrators for FK Group Ltd, FK Construction Ltd, and FK Facades Ltd.
A notification on The Gazette, the official public record website, confirmed the appointment of administrators from BTG for FK Construction. This development comes after concerns within the industry about a slowdown in construction leading to extreme pressure on companies.
FK Group, founded in 1979, is recognized as the leading provider of complete building envelope solutions in the UK, specializing in roofing, cladding, glazing, and maintenance across various sectors.
The group has been involved in numerous projects across different sectors, including the expansion of the south stand at Manchester City’s Etihad Stadium and the new Main Stand at Anfield, the home of Liverpool FC.
According to the Construction Enquirer, Keenan Holdings has saved 54 jobs and crucial ongoing contracts following the collapse of FK Group into administration. While administrators were appointed for FK Group, FK Facades, and FK Construction, FK Resolv, the group’s building safety and remediation contractor, has avoided administration and remains operational, as reported by Express.
David Hopkins, a partner at BTG Begbies Traynor, stated, “This marks a significant restructuring of the Group’s assets and operations. The directors explored various options before concluding that this course of action was in the best interest of all stakeholders, creditors, and the future of the Group.
“As part of this restructuring, our focus will be on achieving the best possible outcome for all creditors, including the realization of the Group’s assets for their benefit.
“The leadership of the Group was committed to ensuring the best outcome for all creditors, and thanks to this process, the jobs of several employees and certain contracts have been able to continue under a new entity.
“We remain hopeful that the skilled employees who were made redundant earlier will secure new roles swiftly, as their expertise is crucial to meeting the industry’s building targets and housing demands.”
