Staffordshire-based contractor Quantum Construction went into liquidation last month owing creditors £4.36m, it has been revealed.
The firm, which had been in business since 2002, had 267 creditors when liquidators were appointed on 6 April.
It also owed 24 staff around £194,000.
Tamworth-based Quantum had £15,000 cash in the bank and £730,000 cash in hand, liquidators Quantuma Advisory added in a report filed at Companies House last week.
The contractor worked across the country on new-build and refurbishment projects in sectors such as commercial, industrial, retail, healthcare and student accommodation.
Among its jobs in the past year were working on the Marsh Barton Industrial Estate (pictured) in Exeter, building a new Starbucks Drive-Thru in Banbury, and the refurbishment of dockside warehouses in Bristol, according to the firm’s LinkedIn profile.
Earlier this month, figures from the government’s Insolvency Service showed that construction was suffering more insolvencies than any other sector. A total of 4,165 construction firms went under in the year to 31 March 2023.
Many contractors have been battling with soaring costs, labour shortages and firms further down the supply chain collapsing.
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