Sureserve setting aside £5.4m after Lakehouse collapse

By Will Ing2019-06-25T11:51:00

Firm says all legacy issues following last year’s Lakehouse sale now accounted for

Sureserve has appointed an ex-Balfour Beatty director to look after its coffers as the group puts aside £5.5m in provisions after the collapse of former subsidiary Lakehouse.

Lakehouse Plc changed its name to Sureserve in 2018, with its construction business sold off as Lakehouse Contracts to Mapp Group for £500,000.

In January Sureserve said it had set aside £2.5m in cash to cover claims made by Mapp regarding poorly performing contracts at Lakehouse, which are covered under parent company guarantees.

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