PHD1 enters administration
Administrators from Bridgestones have been appointed to Warrington-based PHD1 Construction, a month after the contractor was sacked from three schemes in Manchester and Liverpool by Pinnacle Group.
PHD1 was the main contractor for Pinnacle on Angelgate in Dantzic Street, Manchester, and in Liverpool was building projects at The Paramount in London Road, and The Quadrant in Shaw Street. It was also building North Point Global’s £200m Chinatown redevelopment and a £90m residential project at Pall Mall.
Jonathan Lord and Robert Cooksey of Bridgestones Insolvency Practitioners have been named joint administrators.
In statement issued in March, Pinnacle said that the decision to end its relationship with PHD1 was due to “significant performance issues and delays, eroding our confidence that the business is capable of delivering as promised on the developments.”
A new contractor for the Angelgate project in Manchester is expected to be announced next month.
Bilt Group, a company set up in February this year by PHD1 director Julie McInnes, is now the contractor for the first phase of the Chinatown project.
PHD1 and Bilt Group declined to comment.