Contractor collapsed owing creditors over £4.6m
A Nottingham contractor which went under in January owed over £4.6m to unsecured creditors when administrators were brought in, according to documents seen by TheBusinessDesk.com.
DAKO Construction called in administrators from Quantuma on January 20. Shortly after, some 30 staff were made redundant.
Now, it has emerged that DAKO collapsed owing some £4.61m to creditors – who will not now see a penny of the cash due to them.
DAKO owed over £1.1m in VAT and PAYE to HMRC, according to administrators’ reports.
Other major creditors include Maven Capital Partners (over £510,000), MJH Developments (over £185,000), AJG Holdings (almost £96,000) and BP Mitchell Haulage Contractors (almost £82,000).
DAKO, which turned over £15m a year, filed for administration after soaring materials prices and “recent non-payment from certain clients” made its financial situation untenable.
The company had recently completed a number of residential projects in Bristol and Nottingham for Study Inn.
Back in January when the news first broke, a number of DAKO’s creditors took to social media to reveal they had missed out as a result of the contractor’s apparent demise.
