Super-prime Chelsea Contractor Goes Into Administration
Alex Cadwallader and Neil Bennett of Leonard Curtis have been appointed as Joint Administrators of renowned prime contractor, Cheevers Poole Limited, which entered into administration on 8th September.
The Chelsea-based business – established in 2013 – has operated in the super-prime property sector, offering a wide range of bespoke solutions for global clients on more than 140 projects in the UK and overseas.
Cheevers Poole Limited has provided services that cover every stage of the construction process, from demolition to excavation, refurbishment to refit, aftercare services and beyond.
Whilst work had already ceased on the majority of Cheevers Poole sites prior to the administrators’ appointment, Leonard Curtis and their instructed advisors are now engaging with the Company’s clients to preserve any value in contracts and the wider business.
Key management staff are being retained to assist the experts from Leonard Curtis in delivering the best outcome.
Restructuring expert, Alex Cadwallader, comments: “The business has a very strong brand and impressive track record, and we will be working quickly to establish whether any of the contractual arrangements can be salvaged for the benefit of the Company’s creditors.”
Dane O’Hara who specialises in construction insolvency at Leonard Curtis, adds: “We will be working quickly with the retained key management to provide further clarity on the position to stakeholders.
“None of the other companies within the group are subject to proceedings and are continuing to trade as usual.”
