A prominent construction company in the UK has entered administration. FK Construction, based in Greater Manchester, has appointed administrators as part of the FK Group, which recently went into administration.

BTG, previously known as Begbies Traynor Group, has assigned two of its staff as administrators for holding companies FK Group Ltd, FK Construction Ltd, and FK Facades Ltd. An official notice on The Gazette confirmed that administrators from BTG have taken over FK Construction, amidst concerns in the industry about a slowdown in construction causing financial strain on companies.

FK Group, established in 1979, is described on its website as the leading provider of building envelope services in the UK, specializing in roofing, cladding, glazing, and maintenance across various sectors. The group has been involved in numerous projects, including the expansion of the south stand at Manchester City’s Etihad Stadium and the new Main Stand at Anfield, the home of Liverpool FC.

According to reports from Construction Enquirer, Keenan Holdings has saved 54 jobs and vital contracts following FK Group’s administration. While administrators were appointed for FK Group, FK Facades, and FK Construction, FK Resolv, the group’s building safety and remediation contractor, has managed to avoid administration and continues to operate.

David Hopkins, a partner at BTG Begbies Traynor, stated that the restructuring of the group’s assets and operations is a significant move to benefit all stakeholders, creditors, and the group’s future. The focus during this process will be on achieving the best outcome for all creditors by realizing the group’s assets.

Hopkins added that efforts are being made to ensure the continuity of certain contracts and jobs under a new name, emphasizing the importance of supporting redundant employees in finding new roles as the industry aims to meet construction targets and housing demands.