A Norfolk plumbing and heating business has become the latest construction-related business to fail, with creditors appointing Leading Corporate Recovery to manage the liquidation process.
R.J. Drury Plumbing and Heating Ltd (“the Company”) was incorporated in 2008 and entered Creditors’ Voluntary Liquidation with Jamie Playford of Leading Corporate Recovery appointed as Liquidator on 8 November 2017.
The Company provided plumbing and heating installation works and maintenance, specialising in care homes throughout Norfolk, with additional customers in London and nationwide secured contracts from builders and architects, however the Company found that an increase in training requirements and registrations became difficult and expensive to maintain as work decreased.
As a result of changes in the plumbing and heating industry and the struggle to obtain new contracts, the Company started to fall behind with payments to HM Revenue & Customs. The Company ceased trading in August 2017 with accumulated creditors of approximately £92,500 resulting in six redundancies.
The appointed insolvency practitioner, Jamie Playford, said: “We have seen a trend of business failures in the construction-related trades this year, such as joiners, electricians, plumbers and others. We would urge all businesses in these areas to take the time to review their business objectively and carefully consider their work pipeline and overheads. Businesses need to be well-prepared for any further downturn.”
For any queries regarding the liquidation, please contact Chloe Phillips at firstname.lastname@example.org.
Leading Corporate Recovery is Norwich’s fastest-growing insolvency, restructuring and strategic advisory practice, providing help to businesses and individuals across East Anglia and London. Jamie Playford is a director and licensed insolvency practitioner, and a member of the Insolvency Practitioners’ Association and a Fellow member the insolvency trade body, R3. Jamie has worked in the insolvency industry in East Anglia since the late 1990s.
© Leading Corporate Recovery, 2017