Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Rok collapse leaves subcontractors owed £280m

Subcontractors have been left almost £280 million out of pocket following the collapse of Rok, according to a creditors report by Price Waterhouse Coopers.

The bill, which is owed to unsecured creditors largely comprising of subcontractors, is part of a creditors bill totalling £360m.

Nearly 3,000 staff were made redundant and are now owed nearly £6m, while Brandon Hire, Jewson and Woleseley have been left nearly £4m out of pocket.  

Housing contractor Rok became the biggest casualty of the recession after it filed for administration, blaming its demise on government cuts and tough economic conditions.

After a tough six months that saw it release two profit warnings, suspend its finance director and highlight problems in its plumbing, heating and electrical business, a dramatic fall in trading during September tipped the new-build and maintenance contractor over the edge.

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.