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Administration · 15 September 2023

Westridge Construction

Main contractor · Catsfield · South East England

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What happened

WESTRIDGE CONSTRUCTION LIMITED (company number 02557785), incorporated in 1990, entered administration on 15 September 2023. Its status at Companies House is now: liquidation.

Why it failed

Inflation, supply chain and consultant insolvencies, delays on fixed-price contracts and liquidated damages claims hurt profitability and cash flow, leaving too little working capital to keep trading.

  • Main reason: Cost inflation
  • Covid-19
  • Delays
  • Losses on contracts
  • Legal claims
  • 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: FERNLAND DESIGN LIMITED.

Timeline

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

  1. 28 February 2022

    Last accounts filed were made up to this date

    19 months later

  2. 15 September 2023

    Administration started

    11 months later

  3. 23 August 2024

    Administration ended

  4. 23 August 2024

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

AccountsPayment reportInsolvency

Before it failed

Key figures

Profit before tax, year to Feb 2022
£853k
Accounts at Companies House
Staff, year to Feb 2022
214
Accounts at Companies House
Net assets, year to Feb 2022
£4.5m
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 15 September 2023
£12.0m
of which trade creditors £5.5m. HMRC owed £1.1m. a further £1.1m owed to its lenders. Expected return to unsecured creditors: about 13p in the pound
Administrators' proposals

The last accounts filed were full accounts made up to 28 February 2022, 19 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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