Specialist contractor United AG has gone into voluntary liquidation
Olympics specialist contractor United AG has gone into voluntary liquidation.
The subcontractor – which has been working on the troubled final phase of the Olympic athletes’ village for main contractor Galliford Try – has called in administrator FRP Advisory to handle the process.
A source close to the athletes’ village project claimed the firm - an Essex-based windows and doors subcontractor - “still had work to do” on the Olympic scheme.
Building reported last week that Galliford Try is in talks with three other subcontractors over financial disputes arising from lost time on the final two plots of the village – N13 and N26.
According to Companies House, United AG was exempt from filing full accounts, but owed creditors £1.3m at year end 30 September 2010.
Its failure comes just a week after Olympic cladding contractor Parry Bowen – which worked on other parts of the athletes’ village – went into administration, with the loss of 150 jobs.
Other subcontractor failures across the athlete’s village project include contractor P Elliott and specialist Trent Concrete.
Also earlier this year bathroom pod manufacturer EJ Badekabiner was rescued by Galliford Try and sold on as a going concern.
In February, the Olympic Delivery Authority said the overall cost of the village had gone up £11m to £709m, mainly due to the cost of paying for continued supply from companies that had gone bust.