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UK Construction Firm Ceases Trading After Entering Administration with 100 Job Losses
The Leeds-based firm employed 115 people and had £303 million of work under construction when administrators were appointed, Interpath said.
- On July 29, Leeds-based Torsion Construction Limited ceased trading after falling into administration, with joint administrators James Clark and Howard Smith of Interpath appointed to oversee the firm.
- Torsion faced immense liquidity pressures linked to delayed capital events, rising input costs, and contract margin pressure, while Interpath explained that a broader market downturn compounded these difficulties.
- The firm employed 115 people and had delivered £287 million worth of projects in York, Birmingham, Manchester, and Newcastle, with £303 million worth of work remaining under construction at collapse.
- Upon entering administration, the majority of staff were made redundant immediately, though Interpath confirmed a small number of employees have been retained to support the orderly winding-down process.
- Widespread store closures and liquidations have marked a difficult year for the UK, with various companies, including the Accell Group, also filing for administration this week.
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UK construction company crashes into administration as Britain's property crisis loses another housebuilder
UK construction company crashes into administration as Britain's property crisis loses another housebuilder . Another property construction company has plunged into administration amid the UK's ongoing housing crisis
·London, United Kingdom
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Coverage Details
Total News Sources14
Leaning Left2Leaning Right1Center10Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
15%
C 77%
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