End of the road for Colmore Tang Construction
Birmingham-based Colmore Tang Construction has entered voluntary liquidation.
The firm, which was facing a winding up petition from HMRC, has appointed insolvency firm RP Pendle to wind the company down.
Results to the end of May 2022 revealed a pre-tax loss of £1.2m along with current liabilities exceeding current assets by £3.4m.
Colmore Tang Construction is behind major West Midlands developments such as Seven Capital’s flagship St Martin’s Place on Broad Street, St. George’s Urban Village in the Jewellery Quarter, Granville Lofts, The Quadrant, and The Landmark in Dudley.
Richard Rendle, liquidator at Rendle & Co, told Construction News: “The company was several weeks away from completing its one remaining contract when HMRC issued the petition, which was a surprise to the company.
“The company had hoped to complete the contract, which it believed would have enabled it to satisfy all its creditors. However, the issue of the petition meant that the company was unable to continue to trade and hence could not complete the contract.”