Avonside Liquidation Leaves £17m Debt as Subsidiaries Dispersed

THE AVONSIDE GROUP liquidation has reportedly left debts totalling over £17 million owed to industry suppliers and subcontractors.

The debts are thought to affect elements of the whole vertical supply chain, from property developers, and nationwide distributors to the smallest subcontractors, who are left with unpaid bills and outstanding retention payments.

Creditors are unlikely to see outstanding debts paid once the administrators have disposed of any assets and paid outstanding loans to the roofing contractor’s bankers, the National Westminster Bank plc.

Avonside Group Services appointed administrators Begbies Traynor on 7 September for nine of the roofing contractor’s group subsidiaries.

Avonside Liquidation Subsidiaries

The nine Avonside Group companies now in liquidation, in addition to Avonside Group Services Limited itself, are:

1. Avonside Roofing Limited
2. Bracknell Roofing Limited
3. Cobsen-Davies Roofing (Southern) Limited
4. Danescourt Roofing Limited
5. M Rogerson Limited
6. Mid Kent Roofing Limited
7. SM Roofing Contracts Limited
8. Taylor Roofing Limited
9. Tudor Roofing Limited

Avonside Group Subsidiaries Sold

A further nine of Avonside Group companies were sold earlier this month to Andrew Morley Business Consultancy for a reported sum of £437,500.

Avonside Group board in November 2019

Andrew Morley was Chief Operating Office at Avonside Group and he – with former Avonside Commercial Development Director, Vincent Hughes – are both directors of Andrew Morley Business Consultancy. The third director of the company is Jayne Pointon.

The companies sold to Andrew Morley Business Consultancy are:

1. Blake Roofing Services Limited
2. Bracknell Roofing South Limited
3. Coulson Roofing Limited
4. Mclean Roofing East Limited
5. Mclean Roofing North Limited
6. Mclean Roofing West Limited
7. Pinfold Roofing Limited
8. SM Roofing Contractors Limited
9. Taylor Roofing Services Limited

Avonside Energy

Former Chief Executive Officer of Avonside Group, Eddie Stanton remains director of Avonside Energy which was bought out with investment from RCapital, together with fellow directors, Bill Rumble and Matthew Fuller.

Avonside Energy says it will generate revenue of over £15 million this year and is profitable and cash generative. It employs over 100 skilled workers, with major customers including Barratt Homes, Taylor Wimpey, Persimmon Homes, Redrow and Miller Homes.

Eddie Stanton remains listed as director of 14 active companies:

1. Avonside Eco Homes Limited
2. Avonside Energy Limited
3. Almire Holdings Limited
4. Avonside Renewables Limited
5. Burke Investments Limited
6. Clerkenleap Holdings Limited
7. Fairview Roofing Limited
8. SBS Roofing Limited

And with fellow former Avonside Group director and Acquisitions Officer, Keith Kershaw:

1. Avonside Home Improvements Limited
2. Avonside Roofing Group Limited
3. Chartwell Roofing Company Limited
4. Cobsen-Davies (Sussex/Kent) Limited
5. Ploughcroft Ltd
6. SBS Construction Group Limited

Begbies Traynor said Avonside Group Services Limited had failed following difficulties during the pandemic period.

A new company accounting system also resulted in “some inaccuracies of the financial management information and reliability of data.”

The administrators said: “This led to concerns over billing which caused cash flow difficulties, working capital funding issues, and margin erosion and ultimately led to the point where the group’s financial records were considered to be materially inaccurate.”

Any person who requires further information may contact Elliot Bero of Begbies Traynor by email at elliot.bero@btguk.com or by telephone on 020 7516 1500

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