Alucraft Systems appointed to job last year
A cladding firm that was working on the new Everton stadium project has formally gone into administration.
Administrators from PwC were appointed to Staffordshire-based Alucraft Systems last week, according to documents filed at Companies House.
Alucraft was appointed to the Everton job last February and, according to a company announcement, was due to start on the Bramley Moore Dock scheme last May.
In a post on LinkedIn last month, the firm said it was 鈥渕aking great progress鈥� on the job and added: 鈥淲e鈥檙e delighted to share the successful installation of the initial batch of cladding panels on site, with further installations already scheduled.鈥�
In its latest results for the year to December 2022, the firm, which is based in Tamworth, saw pre-tax losses widen to 拢5.7m from 拢2.4m on turnover up a quarter to 拢18.7m.
In the accounts, the firm said it racked up 拢3.2m of exceptional costs during the year. It said it was owed money 鈥渙n four problematic contracts [but] subsequent to the year end the directors now consider the amounts owed by the contract counterparties to be unrecoverable鈥�. It said this was because of 鈥渃hallenging trading conditions experienced by the counterparties during the covid-19 pandemic鈥�.
In the accounts, the firm, which employed 82 staff in 2022, added it was expecting to turn in a profit last year.
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