The Construction Partnership Ltd 鈥� formerly known as Ashe Construction (Southern) Ltd 鈥� has offices in Southampton and Surrey and operates across London and the Home Counties.
It has now ceased trading and appointed administrators from insolvency and restructuring firm CVR Global.
CVR partner Matthew Fox, joint administrator, said that disputes with two local councils had left the company unable to pay creditors.
鈥淭his was a successful, profitable company which has delivered hundreds of schemes but disputes around projects delivered for two local councils left it with serious cash flow problems,鈥� he said.聽 鈥淭his meant the directors had no choice but to appoint administrators. All its building projects have ceased and all staff have been made redundant.
鈥淭ypically companies in this sector have large networks of subcontractors and in this instance we believe that may number over 200 companies and individuals. We are currently investigating the possibility of further legal challenges over the two council contracts where payment has been withheld.鈥�
The Construction Partnership, Headed by managing director Chris Horsfield, is a chartered building company that specialises in new build, refurbishment and alteration work operating in various markets including residential, education, health and commercial.
It had a turnover of around 拢11m and employed 14 people who were made redundant by the company prior to administration.
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