Lane End enters administration
The decision comes more than a month after the Warrington-based developer contractor said it was intending to appoint an administrator as a “protective measure”.
Lane End Developments Construction posted a notice on its website this week announcing it had entered administration.
Jeremy Woodside and Frank Ofonagoro of Quantuma Advisory have been appointed as joint administrators of the company.
In February, Lane End had said it was looking to restructure its business. At the time, the company said it would appoint an administrator “as a protective measure whilst due diligence is ongoing”.
Back then, construction director Mick Cunningham said Lane End had new investors entering the final stages of negotiations.
He had also added that the restructure process would be finalised by the first week of March.
“Upon conclusion, this investment will secure the future of our employees and sub-contractor partners and will allow Lane End to continue to grow and develop,” Cunningham had said.
Lane End has built more than 1,100 homes in the North West, according to its website. The company reported an £81m turnover for the financial year ending 31 May 2022.
Lane End is working on various projects, including 77 homes in Llandudno with ClwydAlyn and 60 homes in Wigan with Torus.