Building aggregates supplier set to fall into administration

A building products firm which has a major quarry in the East Midlands is set to collapse into administration, TheBusinessDesk.com understands.

Geo Quarries supplies aggregates, gabion stone, decorative aggregates and its self-binding geopave 10® gravel. It is headquartered in Leeds, but runs a quarry in Little Ponton, near Grantham.

The firm, which was established in 2015, has posted a notice of appointment to appoint administrators after having its hand forced by Bibby Financial Services, which holds a charge against it.

Geo’s last, unaudited, accounts were filed in January, for the period to the end of April 2023. They show the firm in apparent good health, with total net assets of over £2.4m and a profit and loss account almost the same amount in the black.

At the time, Geo employed 37 people.

In 2022, Geo launched a subsidiary firm Geo Concrete Products to supply concrete blocks.