黑洞社区

The 拢131m-turnover firm became the latest medium-sized victim of the recession at the end of last year. It was put into administration after it failed to repay a 拢10m loan given to the firm in 2008 by distressed lending specialist Agilo.

Nick O鈥橰eilly, an administrator at Vantis, said overtrading had played a large part in the firm鈥檚 demise. 鈥淟ancsville experienced a rapid growth over the last year but it didn鈥檛 have the infrastructure to sustain this,鈥� he said.

The firm, owned by the Henry family, traded for more than 30 years, and was employed as a main contractor on projects including the 拢28m Iylo residential scheme in Croydon, and a 拢40m Thames Gateway mixed-use development.

Credit reference agency Top Service said the firm had been plagued by financial problems and county court judgments since 2007.

Its collapse came despite last-ditch efforts to reach a rescue deal with lenders. Last October, Lancsville finance director Gordon Wright told 黑洞社区 that a deal was being negotiated but O鈥橰eilly said the firm had been unable to replace investor Agilo. He added that it was unclear how many creditors would be paid.

Henry Construction and Henry Cranes, which are owned by the same family, have also been placed into administration.