Administrators revealed at struggling building products firm

Dow Schofield Watts (DSW) has been named as the administrator to a struggling building products firm, TheBusinessDesk.com can reveal.

As we reported last week, Geo Quarries, which has a major quarry in Little Ponton, near Grantham, was facing an uncertain future after filing for administration.

Now, Lisa Moxon of DSW has been brought in to look after the day-to-day running of the company.

Geo Quarries supplies aggregates, gabion stone, decorative aggregates and its self-binding geopave 10® gravel. Its registered office is in Leeds, but its quarry is in Lincolnshire.

The firm, which was established in 2015, had posted a notice of appointment to appoint administrators after having its hand forced by Bibby Financial Services, which holds a charge against it. It also faced  a winging up petition earlier this month.

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 of 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.