Geoff Jacobs and David Standish from Interpath Advisory and Linda Johnson and Leonard Gerber of KPMG Advisory were appointed joint liquidators on Friday 31st March.
Established in 1985, GCGL provides head office functions including IT, HR and finance services, to various subsidiaries in the construction, facilities management and related industries.
Subsidiaries include AFM, Granite Le Pelley and Sterling Services.
The company was deemed unviable after Camerons was liquidated on Monday 27th March.
The group’s directors and shareholders voted to wind the company up and appoint liquidators to realise the group’s assets, including shares in its subsidiaries.
Geoff Jacobs, managing director at Interpath Advisory and joint liquidator, said: “Our intention is to retain six employees for a period of time to continue the provision of certain head office functions to the wider group entities where appropriate to do so and we will also seek to realise the shares in certain subsidiaries. We thank the employees in advance for their support during this challenging time.”
Linda Johnson, partner at KPMG in Guernsey, added: “Following the closure of Camerons, the insolvency of GCGL has been precipitated due to the various guaranteees it provided which have been called upon. Anyone with an interest in any subsidiary entity should make immediate contact with the Liquidators.”
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