UK construction company plunges into liquidation after 40 years

UK construction company plunges into liquidation after 40 years The company, based in Bolton, has been voluntarily wound up after a special resolution was passed and joint liquidators from Cowgills appointed to oversee the process A construction company led by two directors who have previously carried out projects for Wetherspoon and JD Sports has been wound up. Juma Construction Group's Matthew Hoyes and Julian Kirkpatrick boast a combined 40 years of experience in the industry, according to the firm's website. The Bolton, Greater Manchester-based business has been voluntarily dissolved following the passing of a special resolution and the appointment of joint liquidators. Craig Johns and Jason Elliott from business advisory firm Cowgills are managing the process, which entails selling off assets, settling any outstanding debts and distributing remaining funds to shareholders. The directors of Juma Construction Group have also previously worked on projects for BT, Sports Direct and Revolution Bars under former employers, the company website confirms. The firm specialised in office fit-outs, renovations, refurbishments, gas and civil engineering. Among its notable projects, the company completed the design and build of a training facility at John Leggott College in Scunthorpe, as well as a four-month fit-out of The Bridge Hotel for Ask Drinks Ltd, reports the Express. Juma Construction Group and Cowgills have both been contacted for comment. The news, published by The Gazette on Monday (June 8), comes as the latest figures revealed that output across Britain's construction industry fell at its sharpest rate since Covid the previous month. Concerns over the Iran conflict and political instability dampened demand for construction work in May, with the S&P Global UK construction PMI recording a figure of 38.2 - a sharp drop from 39.7 in April. A reading above 50.0 signals that activity within the sector is growing, while anything below indicates it is shrinking. The latest figure was the lowest since May 2020, with construction output having been in decline for roughly eighteen months despite the Labour Government's manifesto commitment to deliver 1.5 million new homes by 2029. S&P Global's survey revealed that heightened uncertainty surrounding the economic and political landscape was suppressing demand, while firms struggled with soaring energy, fuel and transport costs. Builders surveyed pointed to project delays, postponed major investment decisions, and widespread cutbacks to clients' budgets as key factors behind the reduced number of work opportunities in May. Some also highlighted political turmoil as having a knock-on effect on demand, following Sir Keir Starmer's battle to remain as Prime Minister amid mounting calls from Labour MPs for him to step down. Max Jones, Head of Construction at Lloyds, said earlier this month: "While ongoing uncertainty weighs on output, many firms are staying focused on current work and planning for future growth." He noted that businesses were continuing to invest in skills development in preparation for fresh opportunities tied to cleaner energy and expanding sectors of strategic importance, such as defence.