Jerram Falkus Construction has filed a notice of intent to appoint administrators, according to documents lodged at the High Court, signalling the likely end of 140 years in business.
The Shoreditch-based contractor submitted the notice yesterday (Tuesday). Phone calls to the company’s office went unanswered, following weekend speculation that the firm had ceased trading.
In its most recent accounts submitted to Companies House, the contractor reported turnover of £50m.
Among its live projects was a £20m scheme in east London to deliver a new leisure centre and expand a secondary school. The project, covering works at Wanstead High School and Wanstead Leisure Centre, is running several months late. Completion had been expected last autumn, itself five months behind an earlier target date. The scheme has been under way since 2020.
For the year to July 2024, turnover rose 7.5% to £50m, while pre-tax losses reduced significantly from £5.4m in 2023 to £342,000. Headcount fell from 86 to 68 over the same period.
In a statement accompanying the accounts, the firm said: “Going forward, projected turnover for the next financial year is £57.4m, of which approximately 91% is already on site.
“With appropriate provisions included in the 31 July 2024 results and the pricing of the current projects accounting for further inflation, the directors are confident that margins will continue to recover to their normalised levels.”
