Manchester-based contractor and developer Beaumont Morgan Developments Ltd has filed for administration.
The firm worked primarily as a contractor for Fortis Developments Ltd, which is based in Manchester and shares three directors with Beaumont Morgan. A notice that an administrator had been appointed was filed with the courts on Friday (21 January) afternoon.
Fortis Developments did not respond to Construction News’s request for comment. Beaumont Morgan could not be contacted.
Beaumont Morgan was established in 2011. In its most recent filed accounts for the year to 27 March 2020, the company reported a £67,000 profit on turnover of £47.2m. Its net current assets stood at almost £512,000. The contractor claimed to have an order book worth £150m with projects extending into 2023.
Beaumont Morgan focused on residential projects in Manchester and the North West. In recent years, it attempted to diversify by working with more external clients and taking on jobs with a greater range of values. It employed around 60 people, according to its last set of accounts.
The contractor managed to keep its sites open through the pandemic and, in March 2021, said it had experienced “minimal” delays on its projects due to subcontractor availability. All non-essential spending was put on hold to shore up its finances.
Administrations crept up in December to 20. Experts warned the number of insolvencies could rise in the early months of 2022 as companies struggle to manage greater debt burdens and higher construction costs.
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