Nordic Construction enters administration
The main contractor for a 345-bedroom student hall development in Liverpool’s Hope Street has entered administration weeks after completing the project.
BDO business restructuring partners Danny Dartnaill and Matthew Tait were appointed joint administrators of Nordic Construction on 28 October 2015.
The company, headquartered in Guildford, Surrey, specialised in off-site timber-frame construction for mixed-use and residential redevelopment schemes across the UK.
The company ceased to trade upon appointment, and all 24 employees were made redundant.
Nordic Construction was a subsidiary of NCH Capital, and was the main contractor on NCH’s first Liverpool project, a 345-bedroom student accommodation block on Hope Street which includes 13,100 sq ft of commercial space.
The scheme completed in October and is NCH’s first UK development. The block is managed by Victoria Hall.
NCH paid Maghull £4.2m for the site in 2013.
Danny Dartnaill, BDO business restructuring partner, said: “The company encountered difficulties as a result of the challenging economic climate and experienced a shortfall in its working capital position. Unfortunately, it was left with no other option but to enter administration.
“The joint administrators are taking all necessary steps to mitigate losses to customers and, going forward, will seek to maximise recoveries for the benefit of creditors. We are currently assessing the potential for a sale of the company’s business and assets, and would invite any interested parties to contact the administration team.”