Ardmore Construction Group Ltd (ACG) and its trading subsidiaries have collapsed into administration, resulting in approximately 275 employees losing their jobs. The high-profile London contractor, once one of the capital's largest privately-owned firms, has appointed administrators from two firms to oversee the process.
Administrators Appointed
Dominik Thiel-Czerwinke and Jamie Taylor of BTG (formerly Begbies Traynor), along with Jason Callender of Panos Eliades Callender & Co, were appointed on June 11 for ACG. They also took control of Ardmore Fitout Ltd, Ardmore Major Projects Ltd, Ardmore Regeneration Ltd, and Landmark Facades Ltd.
Job Losses and Impact
BTG confirmed that around 275 staff have been made redundant due to the cessation of trade. Administrators have been liaising with the Department for Work and Pensions and providing information to staff to help them lodge employment claims with the Redundancy Payments Service.
Ongoing Projects
At the time of collapse, Ardmore had 10 active London projects. Many clients are already seeking replacement contractors. Last year, the firm completed Phase 4a at Battersea Power Station, a £120 million project for Peabody and the Battersea Power Station Development Company.
Financial Troubles
According to its most recent audited accounts for the year ending September 30, 2024, ACG reported a pre-tax loss of £42.6 million on a turnover of £343.8 million. The company, founded in 1974, was a family-owned contractor specializing in high-end luxury apartments, hotel refurbishments, and mixed residential schemes.
Next Steps
Quantity surveyors from BTG's real estate division, BTG Eddisons, have attended sites to assess security, secure company assets, and meet health and safety requirements. The collapse marks a dramatic fall for one of London's most established construction firms.
