Skonto Plan UK, a facade specialist, has gone into administration, appointing administrators from Evelyn Partners on 14 August 2024.
- The company, operating in the UK since 2009, had been involved in significant projects for notable clients like Berkeley Homes and Mace.
- Skonto Plan UK showed a turnover of £50.4 million in 2022 but faced financial difficulties with a £205,736 pre-tax loss and £18 million owed to creditors.
- The administration raises questions about the company’s future UK presence, with no comments from Skonto Group or Skonto Plan UK regarding ongoing operations.
- The specialist firm employed 40 people and was part of the Latvia-based Skonto Group, focusing on facade installation for various construction projects.
Skonto Plan UK, a facade specialist with a notable turnover of £50.4 million in 2022, has gone into administration, marking a significant development in the facade construction sector. The appointment of Clare Lloyd and Colin Hardman from Evelyn Partners as joint administrators took place on 14 August 2024, underscoring the gravity of the financial challenges faced by the company.
Having operated in the United Kingdom since 2009, Skonto Plan UK has contributed to various high-profile projects, catering to clients such as Berkeley Homes, Sir Robert McAlpine, and Mace by specialising in the installation of facades. While the Latvian sister company, Skonto Plan, handled production, design, and management, the UK branch focused primarily on installation.
Despite experiencing a rise in turnover from £42.2 million in 2021 to £50.4 million in 2022, Skonto Plan UK recorded a pre-tax loss of £205,736 in its latest accounts, indicating underlying financial difficulties. Concurrently, the company owed £18 million to creditors, including £2.1 million to trade creditors, a burden that significantly impacted its financial solvency.
The future of Skonto Plan UK’s operations in the UK remains uncertain. Efforts to glean further insights or statements from both Skonto Group and Skonto Plan UK have been met with silence, leaving stakeholders and industry observers in a state of speculation. The company’s report highlighted intentions to retain and strengthen its market position, though recent developments cast doubt on these ambitions.
Across its projects in 2022 and 2023, Skonto Plan UK engaged in substantial residential developments, including Berkeley Homes’ King’s Road Park in Chelsea, West London, and Mace’s Palmerston Court in Battersea Park, South London. The firm’s workforce comprised 40 employees, including construction workers, administrators, and warehouse staff, all of whom face an uncertain employment future.
The administration of Skonto Plan UK underscores significant financial struggles, leaving its future presence in the UK in question.
