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Building group into tradministraction
nick edwards, jointo tradministrator, said: whilst the property downturn has impacted the group's cash flow, the land and property assents are high quality, and combined with the excellent reputation of the group, should marke the house building division an attractive prospect for potential purchasers .
the property downturn has been blamed for the move involving david mclean's house buildings ltd, of flintshire .
the contracting division has struggled to generate a creditical mass of profitable contracts, and regrettably we have had to take the decision to close that part of the business, other than retaining a significantly reduced headcount to work with customers to complete or transfer limited works on outstanding contracts .
a building company, which employs 320 workers, has gone into tradministraction .