← Buckingham Group Contracting in the failures register
Lessons learned report
Buckingham Group: how a £665m contractor ran out of cash, and 8 checks to protect your business
Buckingham Group built railways, HS2 works, stadiums and leisure centres. In its last accounts it turned over £665 million. On 4 September 2023 it went into administration, owing an estimated £198 million to unsecured creditors, £108 million of it to trade creditors. Nothing is expected for them.
The numbers
- Turnover in its last accounts
- £665.3m
- Staff when it failed
- 669
- Owed to unsecured creditors
- £198m
- Expected back for unsecured creditors
- Nothing
Turnover in 2021, its last published accounts
Staff when it failed; 180 moved to Kier and 489 were made redundant
Owed to unsecured creditors, including £108m to trade creditors
More figures are in the full report.
What's inside
- •How rising costs on fixed-price leisure jobs pushed a big contractor under
- •The cash timing problem that squeezed its subcontractor payment runs
- •The public signs in its accounts, filings and payment reports
- •8 checks to make before you work for a main contractor
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Sources
- Joint Administrators' proposals for Buckingham Group Contracting Limited (in administration), Grant Thornton UK LLP, filed at Companies House 4 October 2023
- Buckingham Group Contracting Limited annual report and accounts for the year to 31 December 2021, filed at Companies House 21 December 2022
- Payment practices reports for Buckingham Group Contracting Limited, Check Payment Practices (GOV.UK): January to June 2022 and July to December 2022
This report is for education and is based on the public sources listed. It is not legal or financial advice about any company or contract.