Administrators have been appointed for London groundworks and reinforced concrete frame specialist Corbyn Construction.
David Hudson and Philip Armstrong of FRP Advisory were named in an announcement in the Gazette yesterday (21 May).
Corbyn filed a notice of intention to go into administration last November.
The firm posted a £435,000 pre-tax profit from a £32.8m turnover in its most recent accounts, covering the year to 30 June 2023.
It recorded revenue of £46.1m and made a pre-tax loss of £5.1m the year before.
“Difficult contracts from the pandemic period have finished and material prices are now stable and, in most cases, falling,” Corbyn said in the 2023 accounts.
The firm added that its order book was “satisfactory”, but it ended the year with just £570 of cash in the bank.
Bank loans and overdrafts worth a combined £3.6m were repayable within 12 months, although Corbyn reduced its long-term bank loan debt from £1.8m to £530,000.
The business employed a monthly average of 20 employees, according to its latest accounts.
The contractor, based in Gallions Reach in east London, carried out groundworks and delivered concrete frames for jobs in the capital, including for major mixed-use and residential buildings up to 29 storeys tall.
Its clients have included Galliford Try, Hill, Weston Homes, Telford Homes, Mulalley, Higgins and Taylor Wimpey, according to an overview of projects on its website, which is still live.
Construction remains the industry with the highest rate of insolvency, data published by the Insolvency Service showed this week.
According to its figures, 4,111 construction firms collapsed in the year to 31 March 2025.
While this was lower than the 4,274 construction business failures reported in the year to 31 March 2024, the sector accounted for 17 per cent of all insolvencies in the UK.
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Ben Vogel