Davis Roofing Ltd in Bristol enters administration, highlighting financial struggles.
- The company was part of a significant framework, impacting its market position.
- FRP Advisory’s Jonathan Dunn and Matthew Whitchurch appointed as administrators.
- Recent financial documents reveal a significant decline in the company’s assets.
- The construction sector faces rising insolvencies, with Davis Roofing Ltd as a recent example.
In a significant development for the Bristol construction scene, Davis Roofing Ltd has entered administration. Established in 2006, the company had consistently employed around 40 staff members. However, the recent announcement revealed its financial challenges, as detailed on the Companies House website.
Davis Roofing Ltd was notably integrated into the Crescent Purchasing Consortium’s minor works framework, one of the several firms involved in cladding, insulation, and roofing services. Though the framework is set to conclude in October 2025, the firm’s current situation raises questions about its contribution to this contract.
Jonathan Dunn and Matthew Whitchurch from FRP Advisory have taken the responsibility to navigate the administration process for the company. Their appointment indicates a structured attempt to address the firm’s financial discrepancies and strategise future steps.
The firm’s financial woes are evident from its recent accounts. A dramatic reduction in fixed assets from £225,148 to £89,308 alongside a net asset valuation of £212,611 illustrates the declining economic health of the company. In addition, its obligations to creditors reached £397,461, including substantial amounts owed to trade creditors.
Insights from the Insolvency Service underscore the troubling trend within the construction industry, which witnessed 4,401 insolvencies in the year leading to April 2024. This represented 18% of total business failures, with Davis Roofing Ltd adding to the sector’s distressing statistics.
Davis Roofing Ltd’s administration highlights ongoing challenges within the construction industry.
