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Administration · 15 March 2019

Dawnus Construction Holdings

Main contractor · Swansea · South Wales

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What happened

DAWNUS CONSTRUCTION HOLDINGS LIMITED (company number 04230579), incorporated in 2001, entered administration on 15 March 2019. Its status at Companies House is now: administration.

Why it failed

Cash shortfall driven by difficulties on specific UK contracts, slow recovery of work in progress, difficult 2018 trading and tighter supplier credit; no buyer or investor was found.

  • Main reason: Losses on contracts
  • Cash flow
  • Clients not paying or failing
  • Sale or investment failed

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: DAWNUS CONSTRUCTION LIMITED.

Timeline

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

  1. 31 December 2017

    Last accounts filed were made up to this date

    15 months later

  2. 15 March 2019

    Administration started

    12 months later

  3. 14 March 2020

    Administration ended

    2 months later

  4. 19 May 2020

    Administration started

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Dec 2017
£118.5m
Accounts at Companies House
Loss before tax, year to Dec 2017
£1.7m
Accounts at Companies House
Net assets, year to Dec 2017
£32.1m
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 19 May 2020
£55.0m
a further £7.0m owed to its lenders. Expected return to unsecured creditors: highly unlikely
Administrators' proposals (estimates)
Staff when it failed, Administrators' proposals (estimates)
260
Administrators' proposals (estimates)

The last accounts filed were full accounts made up to 31 December 2017, 14 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

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