End of the line for Lee Group

By Lindsay Gale20 December 2013

Despite some high profile jobs in the SE of the UK, Lee Group has been forced into liquidation

Despite some high profile jobs in the SE of the UK, Lee Group has been forced into liquidation

UK contractor Lee Group has ceased trading with immediate effect with the loss of all 90 full-time and contract positions. Reports suggest that the company’s debts exceed £3 million (US$4.9 million).

Ranked at 52 in this year’s D&Ri 100 with a reported turnover for 2012 of £18.7 million (US$30.6 million), the company entered a Company Voluntary Arrangement in September 2013 under which it could continue to trade and creditors would be paid a dividend of £0.23 in the pound for five years. This was an alternative approach to liquidation.

However, according to accountants Begbies Traynor there had been delays in customer payments and a declining turnover, which have together prevented the company from surviving. Begbies Traynor, with the support of HM Revenue & Customs who is said to be owed £715,000 (US$1.2 million), is reported as having petioned for the liquidation of the company.

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