An update filed at Companies House by administrators from MHA MacIntyre Hudson reveals that 185 non-preferential creditors have been left holding worthless invoices.
Canbury collapsed last November following a cash flow squeeze as three major projects were due for completion at the same time as materials and labour costs continued to rise.
The firm’s commercial team was also stunned when a valuation for works completed on a major scheme was reduced from £1.2m to £110,000 by the Employer’s Agent.
Canbury provided pre-construction, construction management, main contractor and design and build services across all sectors including residential, commercial, leisure and retail.
Latest management accounts for 2022 until the administration show a turnover of £32.4m generating a pre-tax loss of £2m.
The administrator’s reports show Canbury owned three cars when it collapsed.
A £75,000 Porsche Taycan and a £61,000 Audi E-Tron were on contract hire deals.
A Land Rover Defender was owned outright and has subsequently been bought by a former director for £14,000.
