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Administration · 5 March 2018

Lagan Building Contractors

Main contractor · Belfast · Northern Ireland · Part of Lagan

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What happened

LAGAN BUILDING CONTRACTORS LIMITED (company number NI605800), incorporated in 2011, entered administration on 5 March 2018. Its status at Companies House is now: liquidation.

Why it failed

Directors cited project delays and unprofitable contracts hurting cash flow, tighter credit terms after other construction insolvencies, and projected losses, so the company could not keep trading.

  • Main reason: Losses on contracts
  • Delays
  • Cash flow

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: RAVENSCLAW LIMITED.

Timeline

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

  1. 31 March 2016

    Last accounts filed were made up to this date

    2 years later

  2. 5 March 2018

    Administration started

    8 years later

  3. 29 September 2025

    Administration ended

  4. 29 September 2025

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

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Mar 2016
£29.8m
Accounts at Companies House
Loss before tax, year to Mar 2016
£3.6m
Accounts at Companies House
Staff, year to Mar 2016
75
Accounts at Companies House
Net assets, year to Mar 2016
£339k
Accounts at Companies House
Owed to suppliers and subcontractors (estimated), as at 5 March 2018
£2.7m
Expected return to unsecured creditors: prescribed part only, if any
Administrators' proposals (trade creditors)

The last accounts filed were full accounts made up to 31 March 2016, 23 months before it went into administration. Private companies have nine months after their year end to file, so a gap of more than 21 months usually means the next accounts were overdue, one of the warning signs worth checking for.

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

Lessons learned report

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In the news

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