Contractor asks bank to appoint administrator and suspends shares
Greenfield Construction has been forced to call in the administrators after failing to secure sufficient funding for the five year old business.
In a statement to the London Stock Exchange today the company said it has asked it’s bank to appoint an administrator and request an immediate suspension of its shares.
Greenfield, which is based in Mansfield near Nottingham, was set up in 2000 as a civil engineering and groundworks contractor. In July it reported a pre-tax operating loss of £242,000 for the year ending 31 March on a turnover of £9.5m.
At the time chief executive and founder Ian Taylor said the losses were due to a slowing in the housing market and a restructuring of the business which lead to a ”weak performance”.
Greenfield previously traded under the name Hightower.