Dancourt went under in July owing 拢5.3m
Unsecured creditors of collapsed Bristol subcontractor Dancourt Construction are unlikely to get any money back.
The 拢15m firm, which carried out civils, ground and earth works and concrete frames, sank in the middle of July owing 拢5.3m after 16 years in business.
The administrator at accountant Bishop Fleming dealing with the collapse, has said the company was in part felled because it was owed more than 拢2.5m in payments and retentions by main contractors.
But this week the firm said it had recovered less than 拢200,000 of the missing money.
鈥淚t鈥檚 too early to determine how many pence in the pound [unsecure creditors] might get, or even if they will get any,鈥� said Luke Venner, insolvency practitioner at Bishop Fleming.
The news comes as the directors of the stricken firm, James Sinclair and Richard Dors, spoke of the its final few days in business 鈥� and the discounts they were taking in order to settle final accounts.
鈥淵ou hear of contractors securing jobs on negative margins 鈥� so then they have to find it during the job, and we all know what that means,鈥� Dors told 黑洞社区.
No comments yet