Construction Rating
← Failures register

Administration · 8 September 2010

Connaught Partnerships

Construction · Sidmouth · South West England

Share

What happened

CONNAUGHT PARTNERSHIPS LTD (company number 01838150), incorporated in 1984, entered administration on 8 September 2010. Its status at Companies House is now: dissolved.

Why it failed

Industry changes cut and delayed social housing capital projects, causing losses; arrears built up with suppliers, subcontractors and HMRC, and the banks rejected further funding.

  • Main reason: Market downturn
  • Delays
  • Losses on contracts
  • Cash flow
  • HMRC debts
  • Funding withdrawn

Our summary of the reasons given in the administrators' proposals. These record the administrators' and directors' account of what happened.

An administrator, a licensed insolvency practitioner, takes control of the company to try to rescue it, sell the business or get a better result for creditors than a liquidation.

Previously known as: CONNAUGHT PROPERTY SERVICES LTD , CONNAUGHT GROUP LIMITED, CONNAUGHT SOUTHERN LIMITED.

Timeline

The last accounts and payment report before the failure, then what happened, with the time between each.

  1. 31 August 2009

    Last accounts filed were made up to this date

    13 months later

  2. 8 September 2010

    Administration started

    3 years later

  3. 5 March 2013

    Administration ended

  4. 5 March 2013

    Creditors' voluntary liquidation started (shareholders resolved to wind up)

    7 years later

  5. 5 May 2020

    Company dissolved

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Aug 2009
£515.8m
Accounts at Companies House
Profit before tax, year to Aug 2009
£37.8m
Accounts at Companies House
Staff, year to Aug 2009
4,603
Accounts at Companies House
Net assets, year to Aug 2009
£20.0m
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 29 October 2010
£159.8m
of which trade creditors £52.8m. HMRC owed £17.4m. staff owed £1.8m. a further £203.2m owed to its lenders. Expected return to unsecured creditors: nil
Directors' statement of affairs

The last accounts filed were full accounts made up to 31 August 2009, 12 months before it went into administration.

The full filing history, including any late filings, charges and director changes, is on Companies House.

Lessons learned report

We're writing plain-English reports on major construction failures: who was involved, why it happened, the warning signs and how long they were visible, and what to look out for next time.

Sign up to be told when reports are out

In the news

We haven't matched any press coverage to this company yet. Search the news for Connaught Partnerships.