Groundworks firm Bowie Construction files for administration
Cambridgeshire groundworks contractor Bowie Construction has filed a notice of intention to appoint an administrator.
The firm has stopped work on two Norfolk housing sites where it was for Lovell Homes working with West Norfolk Council.
Lovell Homes is now having to find a new firm to take on its 300-home Florence Fields project in King’s Lynn where the groundworks contract is believed to be worth £12m.
The site is understood to have been dogged by flooding problems during bad weather. Another Bowie site for 70 homes at Salter’s Road is understood to have been more advanced.
The Linton-based firm was set up around 15 years ago and specialises in groundworks, drainage and fencing.
According to last published results, Bowie Construction turned over around £15m in 2022 suffering a £1m loss due to cost inflation on fixed price jobs.
Director Andrew Bowie predicted a return to profit in 2023 and 2024.
The firm is understood to employ around 60 staff.
Data and credit checking specialist Red Flag Alert highlighted the firms’ administration notice with its regular checks of high court construction insolvency applications.Subscribers to the Red Flag Alert service benefit from early warnings about the financial health of companies to help them avoid bad debts.
The Enquirer has linked-up with Red Flag Alert to offer readers a discount on its services and help you avoid worthless invoices from insolvent companies.
For more information and to benefit from the Enquirer discount click here.