Sir Robert McAlpine among those owed more than 拢5m in total after Dancourt Construction鈥檚 collapse
The administrator dealing with the collapse of Bristol subcontractor Dancourt Construction has said the company was in part felled because it was owed more than 拢2.5m in missing payments and retentions by main contractors.
The 拢15.5m turnover firm went down nearly two months ago, owing creditors 拢5.2m including plant hire firm CJ O鈥橲hea 拢232,000 and 拢150,000 to Sir Robert McAlpine.
But Jonathan Williams from accountants Bishop Fleming said in the administrator鈥檚 report the company was chasing 拢2.5m in missing payments when it stopped trading in the middle of July.
He said: 鈥淭he difficulties arose as a result of delays in receiving payment from contractors on key construction projects. The company had payments of approximately 拢2.57m outstanding.鈥�
He said the figure included 拢516,000 in retentions with the company losing 拢140,000 a month by the time it sank.
Williams said it was 鈥渢oo early in the proceedings鈥� to see if any of the missing money Dancourt says it was owed can be recovered and distributed to creditors.
But he added: 鈥淚nitial exchanges with the principal contractors on work which was ongoing when the company ceased to trade suggests, in the main, that contractors will claim that no funds will be due given the extent of counter claims.鈥�
All of Dancourt鈥檚 103 staff lost their jobs with the Redundancy Payments Office, which deals with claims from employees who have lost their jobs when a company has gone bust, owed 拢636,000.
Dancourt was founded in 2002 and carried out plant hire, earth and ground works, concrete frames and civil engineering services.
It worked on several schools in the South West area, as well as at the Hinkley Point nuclear site (pictured) in Somerset and on the Ashton Gate football stadium in Bristol.
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