The Stoke-on-Trent and Warrington-based groundworks specialist employed greater than 400 employees and subbies engaged on housing websites throughout the Midlands and North West delivering £58m income for the 12 months to March 2025.
Directors from PKF Littlejohn Advisory UK LLP have been appointed in the present day after makes an attempt to stabilise the corporate’s funds didn’t safe a viable route ahead.
Paul Smith, a companion at PKF Littlejohn, stated the contractor had been hit by the identical pressures bearing down on a lot of the development sector.
He stated: “The development sector has confronted difficult buying and selling circumstances over latest years, together with growing prices, delays to schemes and wider market uncertainty. These pressures have been exacerbated at Caldwell in latest weeks, putting vital pressure on cashflow and operations.”
Smith added that advisers had labored carefully with Caldwell’s administration workforce over a number of months to discover potential rescue choices, however no resolution may very well be discovered that prevented an insolvency course of.
Joint administrator Oliver Collinge stated the choice to enter administration had not been taken calmly.
He stated: “The administrators at Caldwell have taken the troublesome resolution to put the corporate into administration. Our fast focus is now on supporting staff and stakeholders whereas we assess the place of the enterprise and its property.”
The appointment follows a tricky interval for groundworks and civils contractors, with cost delays, price inflation and scheme slowdowns persevering with to squeeze margins throughout the housebuilding provide chain.
