Administrator Forvis Mazars has instructed provider and subcontractors there may be little prospect of seeing any return on the money they’re owed.
A report from directors exhibits that the collapse left the agency’s 127 employees owed round £214,000 in unpaid wages and entitlements.
The long-established family-rrun contractor hit severe hassle on a collection of fixed-price London jobs, together with the Riu Lodge in Victoria and Ebury Bridge flats.
What started as high-profile schemes secured within the bounce again after the Covid pandemic quickly was loss-makers as hovering materials prices, provide chain issues, labour shortages and venture delays mixed to hammer margins.
Directors mentioned the southern division’s tasks marked the beginning of the corporate’s monetary collapse, diverting administration focus and draining money from the broader enterprise.
By August 2023, a number of London schemes had been beneath mounting strain, prompting a full overview that uncovered £20m of losses throughout six tasks.
Regardless of long-standing shopper relationships and shareholder assist totalling £17m — together with a £9.9m fairness injection in June 2025 — the agency was hit by the withdrawal of credit score insurance coverage, venture cancellations and the collapse of a key shopper.
An tried £5m fundraise in early 2025 briefly stabilised the corporate, however by summer season it had run out of money with suppliers refusing to ship supplies forcing HE Simm into administration in early September 2025.
