A construction company based in Bolton, Greater Manchester, has been voluntarily wound up after 40 years in business. Juma Construction Group, led by directors Matthew Hoyes and Julian Kirkpatrick, has entered liquidation following a special resolution and the appointment of joint liquidators from Cowgills.
Company Background
The directors, who have previously worked on projects for Wetherspoon, JD Sports, BT, Sports Direct, and Revolution Bars under former employers, boast a combined 40 years of industry experience, according to the firm's website. The company specialised in office fit-outs, renovations, refurbishments, gas, and civil engineering.
Notable Projects
Among its significant projects, Juma Construction Group completed the design and build of a training facility at John Leggott College in Scunthorpe, as well as a four-month fit-out of The Bridge Hotel for Ask Drinks Ltd.
Liquidation Process
Craig Johns and Jason Elliott from business advisory firm Cowgills are managing the process, which involves selling off assets, settling outstanding debts, and distributing remaining funds to shareholders. Both Juma Construction Group and Cowgills have been contacted for comment.
Industry Context
The news, published by The Gazette on Monday (June 8), comes as the latest figures revealed that output across Britain's construction industry fell at its sharpest rate since the COVID-19 pandemic the previous month. Concerns over the Iran conflict and political instability dampened demand for construction work in May, with the S&P Global UK construction PMI recording a figure of 38.2, a sharp drop from 39.7 in April. A reading above 50.0 signals growth, while below indicates contraction.
The latest figure was the lowest since May 2020, with construction output having been in decline for roughly eighteen months despite the Labour Government's commitment to deliver 1.5 million new homes by 2029. S&P Global's survey revealed that heightened uncertainty surrounding the economic and political landscape was suppressing demand, while firms struggled with soaring energy, fuel, and transport costs.
Challenges Faced
Builders surveyed pointed to project delays, postponed major investment decisions, and widespread cutbacks to clients' budgets as key factors behind the reduced number of work opportunities in May. Some also highlighted political turmoil as having a knock-on effect on demand, following Sir Keir Starmer's battle to remain as Prime Minister amid mounting calls from Labour MPs for him to step down.
Max Jones, Head of Construction at Lloyds, said earlier this month: 'While ongoing uncertainty weighs on output, many firms are staying focused on current work and planning for future growth.' He noted that businesses were continuing to invest in skills development in preparation for fresh opportunities tied to cleaner energy and expanding sectors of strategic importance, such as defence.
