Home / News / Developer collapse leaves merchant out of pocket

Developer collapse leaves merchant out of pocket

A Weksh developer collapsed into administration leaving more than 200 creditors and 40 workers yet to be paid, when it lost a contract worth 34% of its business.

GM Jones, in Llanrwst, had been carrying out commercial and public sector schemes across the Conway region. Yet the end of the Welsh Housing Quality Standards framework contract saw the firm experience cash flow issues – and build up arrears with the HMRC, who threatened a winding up order in March 2019.

Creditors include HMRC, banks, finance firms, staff and builders merchant Huws Gray, to whom it owes £49,000.

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

Check Also

Bull Products reaps rewards of 8% sales growth

Bull Products, a manufacturer of fire protection equipment, is reaping the rewards of success, after …