Administrators at Henry Construction Projects have said they are investigating why the business collapsed and have confirmed the “majority” of the contractor’s 40 staff have been made redundant.
The London-based contractor, which has expanded rapidly in recent years, turning over £402m in the year to June 2021, call the administrators earlier this month.
In an update today, administrators FRP said the company is “no longer trading and, regrettably, most of the company’s 40 employees have been made redundant”, although a “small number” have been retained to help with administration.
David Hudson, partner at FRP, described Henry Construction as a “significant player of scale in the UK market”, adding: “We continue our work to gather information about the assets and liabilities of the business and [to] understand the events that led to the insolvency.
“As part of that process, we are engaging with the developers regarding the status of each site.”
Staff at Henry who have been made redundant are being supported to lodge claims with the Redundancy Payments Service.
Henry is the biggest construction company to suffer since the £400m contractor failed NMCN in October 2021. Other high-profile failures of the contractor in the past five years include They take (£200m turnover), talented (£170 million) i measurements (£291 million).
In its last full year to June 2021, Henry posted a slight rise in pre-tax profit to £14m, on turnover of £402m. Its accounts said “the outlook is positive and our order book remains healthy”.
The company’s work took place primarily in London and the South East, focusing on residential and mixed-use schemes, as well as hotels and student accommodation.
