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'Leading' UK construction company files for administration after 52 years
The move follows a High Court loss over remediation costs that hurt client confidence and payment terms across live projects, the company said.
- The Ardmore Group filed a notice of intention to appoint administrators on Thursday, leaving nine active construction projects in London in limbo, including the £500m Tribeca scheme in King's Cross.
- A landmark High Court challenge by Crest Nicholson regarding the Admiralty Quarter development in Portsmouth prompted the filing, with the court awarding nearly £15m in remediation costs.
- Ardmore stated the Building Liability Order judgment "affected client confidence, payment terms and certified values," materially hindering the group's ability to continue trading normally.
- On Thursday, June 11, the group applied for a company moratorium to secure temporary protection from creditor action while exploring rescue options and preparing an appeal against the BLO judgment.
- Irish brothers Cormac and Patrick Byrne founded the firm in Catford in 1974, establishing an "unrivalled reputation" as a leading residential and hotel builder; the group now focuses on "preserving value.
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Leaning Left0Leaning Right1Center8Last UpdatedBias Distribution89% Center
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89% Center
C 89%
11%
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