Goodwin’s Construction goes under
Manchester-based Goodwin’s Construction Services Group has fallen into administration.
Insolvency specialist FRP was called in at the firm last week and has laid off around 30 staff.
The Cheadle building contractor, which was established six years ago, worked on schemes across the North West of up to £15m.
The firm’s name was changed last month from Goodwin Construction Group.
Goodwin’s managing director and founder Richard Goodwin began his career in construction at Bardsley while qualifying as a quantity surveyor.
At the start of the year after building a good advanced order book, he stepped up to hire a dozen ex-Bardsley staff just weeks after the building contractor collapsed.
But the expanding business then suffered several project delays due to coronavirus, leaving it with mounting cashflow difficulties in recent months.
Joint administrator John Lowe said: “Goodwin’s Construction Services was a strong business, but unfortunately the challenges facing the business left the company with no option other than to appoint administrators as it was unable to generate the cashflow to remain solvent.”
Author: Aaron Morby; Construction Enquirer