Dancourt Ltd of Bristol is now in the hands of administrators from Smith & Williamson. The company operated through four divisions - structures, groundworks, plant hire and training – and operated a fleet mostly comprised of Hitachi excavators.
Also in administration is award-winning roofing and cladding specialist Gable (UK), based in Hampshire’s Hayling Island. The company is credited with having developed a modular ticket office for Network Rail. Insolvency specialists form RMS Tenon have been appointed to take over its affairs.
In Scotland, cashflow pressures have forced Donaghy Ltd into provisional liquidation, despite having more than 30 live contracts on the go. Some 175 employees were let go immediately. A further 10 are still in post helping KPMG safeguard the company's assets, which mainly comprise of plant and hire equipment and debtors.
Blair Nimmo, joint provisional liquidator and head of restructuring for KPMG in Scotland, said: "Despite Donaghy's strong reputation in the Scottish construction sector, the business has unfortunately experienced an extremely challenging trading period in recent months and throughout last year, largely due to the well-publicised downturn in the construction sector.
"The business was experiencing declining margins as tenders became increasingly competitive, ultimately leading to severe cashflow pressures.
"Regrettably, we had no option but to close the business and to make most of the employees redundant.
"We will now be working with the relevant government authorities to ensure staff can claim outstanding sums due to them."
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