Allston Construction in liquidation owing £7.8 million

Tue, 12 Jan 2016

Allston Construction has stopped trading and has been placed in liquidation shortly after a creditors meeting on 8th January 2016.

The Kent-based company shut down in late December owing £7.8 million to various trade contractors. It had a 20-strong workforce, and operated from a base in Rochester.

Director John Gulston ran the company, which was founded in 2007 under the name of Brett Construction, later changing its name to Allston in 2014.

Construction Enquirer reported that the business encountered difficulties during housing projects in Bethnal Green, Rottingdean and Canterbury. It was forced to leave the sites after related costs racked up too high.

A report from Leonard Curtis, quoted by Construction Enquirer, says: “The director attributes the failure of the company to: historic issues relating to contracts, cash flow issues owing to difficulties in obtaining debtor monies, inability to obtain new work despite continued efforts and inability to obtain further working capital.”

Allston Construction recorded revenues of £11 million for the year to
September 2014 with gross profits of £1 million. It has a string of accreditations listed on its website including Safe Contractor approved, Constructionline and CHAS accredited. Services offered include new builds, fit outs, carpentry, bespoke interiors, refurbishments and maintenance.

Business Sale Report subscribers can make contact and find out more details: N A Bennett (IP No. 9083) Email: Tel: 020 7535 7000. Alternative contact: Samuel Wood.

Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.

Latest Businesses for Sale

Printers/ Stationers - Andover, Hants

Asking Price: 
Turnover:  £640,000

Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...

Hotel Accommodation - Folkestone

Asking Price: 
Turnover:  £500,000
Location: South East

Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...

Suppliers of Souvenirs - Derbyshire

Asking Price: 
Turnover:  £1,200,000
Location: East Midlands

With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...

View More Businesses for Sale >>