Harry Neal goes into receivership after Winding-up petition is issued

The London-based building firm Harry Neal, which had a turnover of £40m in 2008, has been placed into voluntary receivership.

Directors of the company are understood to have held a series of meetings on Wednesday to discuss its future after a winding-up petition was issued against it on 27 January.

A source at Harry Neal said today that the firm had been left with no choice but to place itself into voluntary receivership. He added that a creditor’s meeting would be held in 14 days.  UHY Hacker Young is expected to be appointed administrator.

Redworth Construction

It follows news last week that Redworth Construction, which had a turnover of £30m in 2008, was also facing the possibility of liquidation.  A company voluntary arrangement was rejected by creditors of the Yorkshire-based contractor, which specialises in the care sector.

Since 10 December 2009, five county court judgments totalling £78,200 have been filed against the firm and a winding-up petition has also been lodged, with a hearing scheduled for 10 February.

Debtfocus, a debt management firm hired by Redworth, has told creditors that the directors of Redworth will not be contesting the winding-up petition, which may lead to the firm being liquidated.

Posted at 08:13PM Feb 08, 2010 by Kelly Board in Insolvency  |  Comments[0]