Collapsed contractor owed £5.4m when it went under

The unsecured creditors of collapsed Northampton-based mechanical and electrical building services contractor won’t see a penny of the cash owed to them, according to documents seen by TheBusinessDesk.com.

Ambivent, which not long ago was turning over £18m, ceased trading in May after efforts to find a buyer in conjunction with Begbies Traynor failed.

An administrators report reveals that Ambivent owed over £5.4m went it went under – with unsecured creditors making up almost £3.6m of that sum.

The document reveals that the firm’s position had been precarious for the last few months, with slow debtor payments meaning the firm was unable to buy materials and supplies for secured work.

Accounts made up to 31 December 2021 show Ambivent was forced to write off £280,000 it was owed after the high-profile collapse of historic contractor Wildgoose Construction earlier that year.