Mike Cuddy blames ill health for collapse of Welsh contractor.
Cuddy Group has given a statement to the BBC explaining that 54-year-old Mike Cuddy had been suffering since October 2016 from neurosarcoidosis, which can lead to inflammation of tissues. He spent six months in hospital and a further 18 months at home recuperating.
The company said: “During his enforced absence from work at Cuddy Group, he had hoped that others would have stepped up to fill the gap he had left. Unfortunately this did not happen and the challenges facing the company increased month on month throughout 2017 and into 2018.”
With the company’s finances deteriorating, Mike Cuddy returned to work in April six months earlier than planned and against medical advice but despite injecting personal funds into the business he “was left no alternative but to put the company into administration”.
DemolitionNews understands that the administrator is Grant Thornton but has yet to receive confirmation.
DemolitionNews broke the news of the collapse of Cuddy Group on 11 July, several days before the story was picked up by media outlets. We were alerted by several reports from disgruntled and unpaid workers, and by the fact that Cuddy Group had failed to settle its bill with DemolitionNews’ publishing partner Chambers Media.
