Contractor’s brave attempt to work itself out of debt fails.
Almost a year to the day after we reported that Manchester-based Anthony O’Connor had taken out a Company Voluntary Arrangement (CVA) to avoid the threat of outright administration, the company has folded.
Although the company was unavailable for comment, DemolitionNews understands that the company had abided by the terms of its CVA with creditors, but a failure to maintain payments to Her Majesty’s Revenue and Customs led to a breach in the terms of the CVA, effectively doing the company to failure.
It is a sad end to a story that saw the company battle back from the precipice once before.
Further details to follow.
