London groundworks specialist Corbyn Building is ready to nominate an administrator.
Corbyn made a £435,000 pre-tax revenue from a £32.8m turnover within the yr ending 30 June 2023 however has now filed a discover of intention to nominate an administrator.
The group turned over £46.1m in its previous monetary yr however made a £5.1m loss.
The contractor, based mostly in Gallions Attain in east London, delivered groundworks and concrete frames within the capital, together with for main mixed-use and residential buildings as much as 29 storeys.
Its purchasers have included Hill, Weston Houses, Telford Houses, Mulalley, Higgins and Taylor Wimpey, in line with an overview of projects on its website.
The corporate has been contacted for remark.
Building stays the sector with the very best fee of insolvency, in line with data published by the Office for National Statistics last month, which confirmed 4,310 constructing companies collapsed within the yr to 31 August 2024.
Solely 28 building companies entered administration in October, down from 37 in the identical month a yr earlier — however consultants instructed Building Information that building enterprise fashions stay “extremely fragile”.
