Administration · 24 July 2023

R&W Civil Engineering

Civil engineering · Southampton · South East England

What happened

R&W CIVIL ENGINEERING LTD (company number 08428819), incorporated in 2013, entered administration on 24 July 2023. Its status at Companies House is now: administration.

Why it failed

Trading difficulties on contracts, mainly a utilities job, slipping planned work and a market slowdown caused cash flow pressure; a share sale and investor interest failed, leading to a pre-pack.

Main reason: Losses on contracts
Delays
Market downturn
Cash flow
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.

Timeline

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

31 March 2022
Last accounts filed were made up to this date
16 months later
24 July 2023
Administration started

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Mar 2022: £31.8m; Accounts at Companies House
Profit before tax, year to Mar 2022: £877k; Accounts at Companies House
Staff, year to Mar 2022: 122; Accounts at Companies House
Net assets, year to Mar 2022: £6.6m; Accounts at Companies House
Owed to suppliers and subcontractors (estimated), as at 24 July 2023: £6.5m; HMRC owed £374k. a further £1.3m owed to its lenders. Expected return to unsecured creditors: about 5p to 25p in the pound (estimate); Administrators' proposals (trade creditors)

The last accounts filed were full accounts made up to 31 March 2022, 16 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.

In the news

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