Kier CEO Haydn Mursell resigns
18TH APRIL 2019 BY ED BRERETON
Kier CEO Haydn Mursell resigns
Kier CEO Haydn Mursell resigns
Mr Mursell’s position had been under pressure since the company announced a £250m rights issue in December, which saw its share price plummet 40 per cent following the move.
In March, the company unveiled former Wates boss Andrew Davies as its new chief executive officer.
Carillion-hit firm enters administration
Hawk Plant (UK) went into administration in January following a cashflow squeeze. In its last financial accounts - for the year ending 31 December 2017 - filed in November 2018, the company blamed Carillion’s collapse for delaying projects.
Chief executive Mike Hawkins said in the firm’s strategic report: “The liquidation of Carillion in January 2018 has meant some timing disruption as contracts previously awarded have had to be rescheduled."
Spurs stadium: Mace earnings revealed
CN revealed in January that Mace had been paid nearly £100m by Tottenham Hotspur for its role in the construction of the team’s new stadium so far. A Spurs spokesman confirmed at the time to Construction News that the contractor had earned the figure in its construction management role.
The club held the first test event for fans at its new £850m stadium last month before its first official game against Crystal Palace on 3 April.
Creditors face £17m loss in M&E firm collapse
Following Scottish M&E firm Richard Irvin & Sons collapse at the start of the year, its unsecured creditors faced losses totalling £17.4m.
The Aberdeen-based company suffered from a cashflow squeeze as it waited for payment on final accounts and was forced to bring in EY as administrators on 19 December, according to the joint administrators’ report.
After reviewing the company’s accounts, EY determined unsecured creditors were owed around £17.4m and were unlikely to receive anything beyond a small payment from the prescribed part, from the administration.
Interserve files for administration
Interserve filed papers at the High Court for the parent company to be placed into administration last month. The entire group and its assets were sold to a new company controlled by its lenders, with Debbie White staying on as CEO.
Dawnus files for administration
Dawnus Construction filed to put the entire group and all its subsidiaries into administration in March.
CN later reported that Swansea Council staff replaced Dawnus workers on its troubled Kingsway dual carriageway scheme in the city centre.