Staff have been turned away from the company’s construction sites around the North West with the contractor and developer on the brink of collapse, Place North West understands.
Workers have downed tools on sites including Belong Village’s £16m project in Chester, and a project at Hawarden Business Park for Staycold, while calls by Place North West to the company’s office have gone unanswered.
The group’s construction arm in particular had found itself in financial difficulty, reporting a £6.2m loss after tax on a turnover of £50.5m, according to its most recent accounts for the year ending 28 February 2018.
The losses are understood to focus on the City Gardens scheme in Manchester, where the company was building an apartment block for developer DeTrafford. While the contract had completed, the company was understood to be in a dispute with the client and the project’s architect, Ollier Smurthwaite.
Pochin’s put its 250,000 sq ft Cheshire investment property portfolio on the market in May with a price tag of £14m but attempts to find a buyer were unsuccessful.
The company was founded in 1935 and was listed on the London Stock Exchange in 1973, before being taken private in 2014. Representatives of the company have been approached for comment.
Pochin’s is delivering two sites in the region for care home developer Belong, including the site in Chester and another in Birkdale. In a statement to Place North West, Belong said: “We are aware of various rumours surrounding Pochin but at this stage we have not had official notification regarding their future. We have a number of contingency plans in place and will provide further information as soon as we are able.
“In the meantime, the Birkdale and Chester sites have been secured and are closed to future access.”
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