UK construction company facing liquidation – contracts ‘up to 75 million’ | UK | News

A UK construction company is at risk of liquidation after its latest accounts showed it had huge debts of £2 million.

Oxfordshire-based company Gravel Rock Limited held a creditors’ meeting on Friday, July 10, to decide whether the business should be wound up.

The result has not yet been uploaded by The Gazette.

The company was working on complex construction contracts worth up to £75 million. Oxford Post.

The projects included overseeing the development of 246 flats, 26 townhouses and a new public realm called Ashford Riverside Park.

The company has been operating for approximately nine years and was incorporated at Companies House on 20 October 2017.

The business’s latest accounts are dated 31 March 2024 and state that creditors are due within one year for £2,000,427; this is a significant decrease from the previous year at £17,430,987.

Gravel Rock is part of GRE Capital Group.

The final account also states: “The company’s financial performance for the year ended 31 March 2025 resulted in a loss of £28,770 due to improvement works and customer service costs which were not transferred to Ashford Riverside Park.”

The risk of liquidation of the company arises because many other companies in the sector are also in financial difficulty.

On 18 June, Staffordshire-based Kingscroft Construction Limited, with 35 years of experience, went into liquidation.

Before going into liquidation, Kingscroft Construction provided building restorations, completion of new build works and building extensions in Stafford, Cannock, Wolverhampton and surrounding areas.