Construction Enquirer Supply chain owed £22.5m with little chance of any return
Failed civils contractor Roadbridge UK went down owing more than £22.5m to subcontractors and suppliers among its total debts of £60m.
The firm’s supply chain is unlikely to receive a penny for its invoices which are now worthless.
An update from administrator Grant Thornton also revealed that Bank of Ireland is owed €35m.
Hundreds of unsecured creditors are listed in the report revealing the extent of Roadbridge’s debts across the whole supply chain.
The firm’s main contracts were on HS2 where its largest deal was in a joint venture with Tarmac working for main contractor EKFB (Eiffage, Kier, Ferrovial Construction and BAM Nuttall).
Roadbridge was also working on a smalller contractor as a subcontractor to the Align JV of Bouygues, Sir Robert McAlpine, and VolkerFitzpatrick.
Grant Thornton’s brief statement on the demise of Roadbridge UK blamed “ongoing trading losses and the impact of Covid-19”.