St Austell-based Duchy Demolition has become the latest UK demolition company to hit the financial wall. That is now seven in the space of just five months. A resolution to wind up the company was posted on 26 April.
The company follows Squibb, McCormack, Wooldridge, Blucon, Rye and Type Ten off the demolition cliff.
A LinkedIn post from the company just five months ago pointed to a company on the up and up: “Duchy Group has changed so much in the last 12-18 months, we have moved to a new premises, launched a demolition division, acquired a Devon based plant hire and haulage business (Aardvark Haulplant) and opened a depot in Swindon.”
In February, the company was shortlisted in the SME Company of the Year as part of the South West Business and Community Awards.
However, three of the company’s directors had their directorships terminated in very quick succession. Lawrence Poole’s directorship ended on 11 December last year and Ian Aston and Nathan Shrigley followed earlier this month.
According to a new filing on the Companies House website, Duchy Demolition owed £175,000 at the time of its liquidation. Hardest hit was fellow Duchy Group company Duchy Plant Hire which was owed £68,000 and which is itself in administration.
