Written by: Keith Tully
Published: 16th January 2017
A construction business based in the Yorkshire city of Hull has been forced into administration after suffering sizable losses in recent quarters.
The Hall Construction Group has been in existence since as long ago as the late 1800s but its prospects for the future are now uncertain.
Around 65 jobs are understood to be under threat at the business and numerous Yorkshire-based sub-contractors have already been told that their services will no longer be required.
Regional representatives of Begbies Traynor were appointed as administrators of the construction group in recent days and they have made clear that they will be “considering all options” for the business going forward.
“The company recently suffered from undertaking two significant fixed price design-and-build contracts, one of which subsequently resulted in a £2.9m loss,” explained Julian Pitts from Begbies Traynor in a statement.
“However, with its strong reputation in commercial construction, together with a number of blue chip and public sector clients within Yorkshire and Lincolnshire, we are hopeful that Hall Construction represents an attractive proposition for the right buyer.
“We are currently marketing the business and our aim is to find a buyer for the business as a whole, or for parts of the business, in order to achieve the best return possible for creditors.”
Representatives of the East Riding of Yorkshire Council have issued statements explaining that steps are being taken to offset the potential impact that Hall Construction’s entry into administration might have on council projects.
Having been founded back in 1887, Hall Construction has been involved in dozens of local development efforts and a significant employer in and around Hull for many decades.
Prior to its entry into administration the group had been reporting annual revenue levels in excess of £30 million.
The primary focus of the group’s construction work in recent years has been on developing and refurbishing offices and commercial buildings, as well as schools, residential properties, healthcare facilities and retail units.