The Cheshire-based construction firm, part of Cruden Group, is understood to have signed a notice to appoint administrators, with KPMG set to be formally brought in within the next 10 days.
A notice to appoint administrators gives the directors a ten-day period of protection from creditor action, before any official proceedings commence.
The firm reported an operating loss of £2.2m for the financial year ending 30 September 2018. Cruden’s turnover for that year was £38m, up from £32m in 2017.
Last month, Cruden Construction was appointed to take over the construction of a £19m care village for care home operator Belong, a former Pochin project in Birkdale near Southport.
Cruden was also on site at an affordable housing scheme for Torus in Eastham, Wirral.
In June, the firm was among 30 contractors appointed to Great Places Housing Group’s £750m Innovation Chain North framework to deliver social and affordable housing projects across the region.
Cruden, founded in 1964, has its head office in Knutsford Road in Grappenhall.
KPMG declined to comment. Cruden has been contacted for a statement.
Cruden’s impending administration marks it as the latest in a string of contractors that have gone to the wall over the last couple of years.
In February, Warrington-based construction firm Harry Fairclough appointed administrators, followed in April by CPUK, based in Skelmersdale.
Construction had a dismal 2019. Marcus Worthington & Company, the construction division of Marcus Worthington Group, Pochin and Bardsley Construction all appointed administrators. In December 2018, administrators were appointed at Bolton-based contractor Forrest.