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Rok collapse costs merchants millions

Trade suppliers and subcontractors are almost £280 million out of pocket following the collapse of failed building company Rok, according to a creditors report by Price Waterhouse Coopers.

Brandon Hire, Jewson and Wolseley are bearing the brunt of merchant losses, being owed nearly £4m between them. The total creditors’ bill is nearly£360m, which includes £6m owed to the 3,000 employees made redundant.

Rok blamed its demise on government cuts and tough economic conditions, having issued two profit warnings in six months. It’s collapse came just weeks after that of social housing prvider Connaught, which also owed millions to builders merchants and sub-contractors.

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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