Gravel Rock Limited, an Oxfordshire-based construction company, is at risk of liquidation after its latest accounts revealed debts of approximately £2 million. The firm held a meeting of creditors on Friday, July 10, to decide its fate, though the outcome has not yet been published by The Gazette.
Company Background and Financial Details
According to the Oxford Mail, Gravel Rock worked on complex construction contracts valued at up to £75 million. Notable projects included overseeing the development of 246 apartments, 26 townhouses, and a new public realm called Ashford Riverside Park. The company was incorporated on October 20, 2017, and has been in business for nearly nine years.
The most recent accounts, dated to March 31, 2024, show creditors falling due within one year of £2,000,427, a significant decrease from the previous year's figure of £17,430,987. The accounts also state: "The financial performance of the company during the year ended 31 March 2025 resulted in a loss of £28,770, due to remedial works and customer care costs that were not passed onto Ashford Riverside Park." Gravel Rock is part of the GRE Capital Group.
Industry Context
The risk of liquidation for Gravel Rock comes amid financial struggles for many other construction companies. On June 18, Kingscroft Construction Limited, a Staffordshire-based firm with 35 years of experience, entered liquidation. Kingscroft provided building restorations, complete new builds, and building extensions in Stafford, Cannock, Wolverhampton, and surrounding areas before its collapse.
