UK construction firm falls into liquidation – 40 years of experience | UK | News
A construction firm run by two bosses who have previously carried out work for Wetherspoon and JD Sports has been wound up. Juma Construction Group’s Matthew Hoyes and Julian Kirkpatrick have a combined 40 years worth of experience in the industry, according to the company’s website.
But the business based in Bolton, Greater Manchester, has been voluntarily ended after a special resolution was passed and joint liquidators appointed. Craig Johns and Jason Elliott from business advisory, Cowgills, are overseeing the process, which involves selling off assets, paying off any creditors and dishing out any funds to those who have a share in the firm.
Other firms Juma Construction Group’s directors have worked for under previous employers include BT, Sports Direct and Revolution Bars, the company website states.
The company offered office fit outs, renovations, refurbishments, gas and civil engineering.
According to the business, this included the design and build of a training facility at John Leggott College in Scunthorpe and a four month long fit out of The Bridge Hotel for Ask Drinks Ltd.
Juma Construction Group and Cowgills have been approached for comment.
News about the company, published by The Gazette on Monday (June 8), comes after the latest figures showed output in Britain’s construction industry declined at its fastest rate since Covid last month.
Worries about the Iran war as well as political uncertainty weighed on demand for building work in May, with the S&P Global UK construction PMI showing a reading of 38.2 – a steep decline from 39.7 in April.
A reading above 50.0 indicates activity in the industry is increasing while anything below means it is contracting.
The latest score was the lowest since May 2020, while construction output has been in decline for about a year-and-a-half despite the Labour Government’s manifesto pledge to build 1.5 million new homes by 2029.
S&P Global’s survey found elevated uncertainty about the economic and political climate was dampening demand, while firms were grappling with rising energy, fuel and transportation costs.
Builders surveyed suggested project delays and pushing back big investment decisions, as well as general cutbacks to their customers’ budgets, had resulted in fewer opportunities for work in May.
Some also pointed to political uncertainty having an impact on demand conditions, after Sir Keir Starmer fought to stay on as Prime Minister amid calls from Labour MPs for his resignation.
Max Jones, Head of Construction at Lloyds, said earlier this month: “While ongoing uncertainty weighs on output, many firms are staying focused on current work and planning for future growth.”
He said companies were continuing to invest in skills to be ready for new opportunities linked to cleaner energy and growing areas of importance, such as defence.
