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Administration · 5 August 2019

Pochin Construction

Main contractor · Middlewich · North West England · Part of Pochin

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What happened

POCHIN CONSTRUCTION LIMITED (company number 00396388), incorporated in 1945, entered administration on 5 August 2019. Its status at Companies House is now: liquidation.

Why it failed

Four problem residential contracts suffered design delays, supply failures and unrecovered entitlements, losing at least £17m; bridging finance and property sales failed, tenders were lost and trading ceased.

  • Main reason: Losses on contracts
  • Delays
  • Clients not paying or failing
  • Cash flow
  • Funding withdrawn
  • 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: POCHIN CONSTRUCTION LIMITED, POCHIN (CONTRACTORS) LIMITED.

Timeline

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

  1. 28 February 2018

    Last accounts filed were made up to this date

    18 months later

  2. 5 August 2019

    Administration started

    23 months later

  3. 28 July 2021

    Winding-up petition presented

  4. 30 July 2021

    Administration ended

  5. 30 July 2021

    Winding-up order made by the court

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Feb 2018
£50.5m
Accounts at Companies House
Loss before tax, year to Feb 2018
£6.3m
Accounts at Companies House
Staff, year to Feb 2018
99
Accounts at Companies House
Net assets, year to Feb 2018
£139k
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 5 August 2019
£89.0m
of which trade creditors £8.9m. Expected return to unsecured creditors: about 0.4p in the pound
Administrators' proposals (includes £11.6m owed to its parent)

The last accounts filed were full accounts made up to 28 February 2018, 17 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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In the news

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