Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
South East builder Killby & Gayford collapsed with massive debts of £34m, of which £10m was owed to trade creditors, including builders merchant Travis Perkins.
According to administrator BDO none are likely to see any of the cash, Construction Enquirer reports.
Travis Perkins was hit for £160,000 and training body Construction Skills for £142,000. Cheltenham electrical contractor CF Roberts is owed £218,000 and Hertfordshire-based Grays Dry Lining £144,000.
BDO partner Danny Dartnail said only £1.4m has been raised from sale of assets in a report to creditors.
Killby & Gayford’s problems began when the banking crisis hit the firm badly.
Dartnail said that after Connaught and Rok went down in 2010 several wary suppliers sought credit insurance but were refused it on Killby & Gayford because of its mounting debt.
