South London contractor Claritas Group owed more than £9m when it collapsed earlier this month.
The Bromley-based firm underwent a creditors’ voluntary liquidation, citing the impact of inflation on its finances.
A statement of affairs published on Companies House this week shows that it owed a total of £9.36m to 250 creditors at the time.
While its 84 former employees are set to receive payouts and HMRC will get £1.1m of the £1.8m owed to it, no other creditors are set for any payout.
Companies categorised in the statement as ‘trade creditors’ were owed £2.69m while ‘subcontractors’ will be out of pocket to a total of £4.62m.
Lloyds Bank is owed £222,286, which will also not be repaid, as it is an unsecured non-preferential claim.
Claritas was founded in 2014 as Airey Miller Construction. It later became AMCM, then in 2020 changed its name to Claritas Group.
According to its last published accounts, for the year ended 31 March 2022, it turned over £50m – more than double the revenue of three years earlier, when turnover was £23.6m.
In a statement released when the liquidation was announced, Claritas Group founder and chief executive Jon Wardle said: “I am truly sorry for the impact that this will have on your projects, people and businesses.
“The challenge of cash flowing and managing the losses associated with the inflationary pressures of these uncertain times was just too great.
“To our supply chain who supported us to the end. I thank all of you and I am truly sorry for the impact on you, your respective employees and supply chains.”
He added that he hoped the company’s “sad demise” would “provide inspiration for a more sustainable and collaborative industry”.
In November 2021 the firm was named as replacement contractor on a £50m student accommodation build in South Wales (pictured), called True Student Swansea, after the collapse of Create Construction. Create also blamed the impact of rising costs for its own demise.