Creditors chase £6.5m after Herbert Baggaley collapse
Published: 03 May, 2013
Travis Perkins and Elliott Group are among the trade creditors chasing £6.5m unpaid contracts after the collapse of the Nottinghamshire-based contractor Herbert Baggaley Construction. Travis Perkins is owed £20,452 and Elliott Group £27,499.
Administrator KPMG estimates £2m can be found to pay trade creditors, leaving an estimated £4.5m shortfall.
In a creditors report filed at Companies House this week, KPMG said the general downturn in the economy and decreased activity and margins had forced the firm under.
The Mansfield-based firm, which dates back to 1908, made a £1m loss in 2011 and 2012, KPMG said. KPMG was drafted in two months before the firm entered administration to try and find a buyer or investor, but despite contacting 100 parties was unsuccessful.