Squibb on the brink

Squibb Group, one of the UK’s biggest demolition companies, has applied for a Company Voluntary Arrangement (CVA) in an attempt to keep creditors at bay.

The company has appointed administration specialist Begbies Traynor as it works to survive what is being described as a “cash-flow crisis”.

DemolitionNews spoke to one of the company’s creditors this morning. They are scheduled to receive full details of the CVA today but suggestions are that creditors will be offered 60p in the pound. A creditor’s meeting is scheduled for 9 November.

Squibb was among 10 NFDC member companies found guilty of price-fixing and bid-rigging earlier this year although the company is appealing the £2.0 million fine levied against it.

However, even though a £2.0 million fine is a bitter pill to swallow for a company with a turnover of around £33 million last year, it is not believed that the CMA fine is responsible for the company’s current predicament.

Indeed, rumours surrounding the firm’s liquidity were circulating long before the CMA handed down the fines in March this year.

Although the company could yet be pulled back from the brink, one industry pundit described the current situation as “potentially the biggest bankruptcy in British demolition history”.

Squibb Group is one of the best-known names in the UK demolition business and can trace its history back 75 years and founder Harry Squibb who started the H Squibb and Son company based out of Stepney in East London.

That son was Leslie Squibb senior who joined the company in 1969 and who was chairman until his passing in 2020.

However, he did survive long enough to see the opening of the company’s state-of-the-art headquarters at Stanford-le-Hope back in 2018.

The Break Fast Show #600

In today’s show: A big rig comes crashing down in Norway; the CASE Tomahawk centre is the place to be; we’re dipping our toes in the water at a Welsh weir; and Komatsu’s on parade.

PLUS we’re going underground at HS2 in Ealing.

In addition to all that, we will be celebrating our 600th show by giving away an exclusive Kinshofer backpack to one lucky viewer.

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The Break Fast Show #599

In today’s show: Bobcat expands its product line in pursuit of compact sector dominance; what does it take to fix Tower Bridge? We get a glimpse of a high-tech mining future with Sandvik; and you’ve heard of the axis of evil. But what about the AXXIS of good?

PLUS a monster Volvo high reach makes its maiden outing in Texas.

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Don’t blame the undertaker

Have you ever been to a funeral during which it has been suggested that the undertaker was, in some way, responsible for the demise of the deceased? Of course you haven’t; such a preposterous notion would be out of place even in a particularly far-fetched Agatha Christie novel.

And yet that is precisely the logic being peddled by architects, academics, politicians and certain parts of the media that believe the demolition process is an environmental threat.

Before we get into the facts, it is worth explaining – for the uninitiated – just how demolition works.

Demolition crews do not roam the countryside, destroying everything in their path and laying waste to historic and listed buildings along the way. Like fictional vampires, demolition companies have to wait for an invitation before they can come in; and that invitation – invariably – comes from the very people that are asking us all to believe that demolition firms are somehow responsible for the waste of embodied carbon.

But politicians, architects and construction companies do not just invite demolition. In fact, their role in the whole embodied carbon business runs much deeper than that.

No demolition company has ever rewritten building or sustainability regulations that render some buildings effectively outside the law. Governments and politicians do that.

No demolition company has ever built a single-purpose building with an expected useful lifespan of 20 or 30 years. Construction companies do that.

No demolition company has ever built a building using materials that are difficult, costly or even impossible to recycle, repurpose or reuse. Specifiers do that.

No demolition company has ever built a building using unsuitable methodologies and/or sub-standard workmanship. Construction companies do that.

No demolition company has ever built a hospital or a school from aerated concrete with the long-term structural integrity of meringue. Construction companies do that.

No demolition company ever expended excessive amounts of carbon to produce a building that is aesthetically beautiful but utterly impractical. Architects and construction companies do that.

No demolition company has ever neglected a building to the point that it is no longer habitable. Maintenance companies do that.

All that expended carbon. All those wasted materials. All that time, effort and money and, in each instance, demolition’s only involvement was clearing up a mess created by others.

Moreover, while construction factors waste into its profit and loss forecasts, demolition has all but factored it out. As much as 98 percent of all materials from a demolition project are recovered and injected back into the construction supply chain; often for architects, specifiers and construction companies (you know, the ones with the sustainability fixation) to get “sniffy” about secondary materials.

The truth is that demolition companies are the undertakers of the construction sector. Like undertakers, they are not responsible for the conception; they are not responsible for the nurturing; and they are not responsible for the circumstances surrounding the end. They are there purely to lay to rest that which is spent and that is no longer able to function.

Any attempt by architects and those peddling the RetroFirst doctrine to level embodied carbon criticism at the demolition industry is like a tobacco company blaming a funeral director for the deceased’s lung cancer. It is a diversion; a distraction. And we’re not buying it.

This article was originally published on Demolition Insider where subscriptions are currently still free.

The Break Fast Show #598

In today’s show: We take a deeper dive on the two latest Kobelco mini excavators; think the JCB Fastrac is just for farming? Well think again; a Cat D11 dozer gets a facelift; and John Deere on the path to sustainability.

PLUS another satisfied Hyundai wheel loader customer.

Join us LIVE for your daily fix of news, views, video and comment from the world of demolition and construction.

Come for the news and stay for the chat in our after-show discussion session, The Craic.

The Break Fast Show #597

In today’s show: We’re straight talking about the Cat 352 demolition excavator; Mecalac charges into electric excavator market; and Komatsu challenges accepted wisdom with its new electric excavator

PLUS The Jumbo – officially a world beater.

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Electric Earthmoving Equipment LIVE

A one-off LiveStream showcasing the very latest in the field of electric-powered demolition and construction equipment from some of the hottest brands in the world.

The show will include contributions from the likes of Bobcat, JCB, Kubota, Sunward, Volvo and XCMG among others.

PLUS one lucky winner will walk away with a special and very appropriate prize – A wireless mobile phone charger.

Join us if you can.

The Break Fast Show #596

In today’s show: Volvo goes all-electric for its Operator Club Final competition; Kobelco has unveiled a pair of new mini excavators – Our resident AI news anchor Demi Lition has the low-down; Norway forges on with fjord road; and we’re taking a look under the hood of the latest CASE compact wheel loaders.

PLUS we’re reporting on perhaps the most appropriate use for electric equipment to date.

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Top Down Way – World Premiere

Earlier this month, DemolitionNews visited Milan to witness the latest outing of the Top Down Way tower block deconstruction system pioneered by Italian demolition giant, Despe.

In this WORLD EXCLUSIVE LiveStream, we will show the resulting film publicly for the very first time. So please, join us if you can.

The Break Fast Show #595

In today’s show: Architects are waging a war on demolition. So where is the demolition response? Why BCL Groundworks goes back to Hitachi again. And again; we’re celebrating 10 years of Intelligent Machine Control with Komatsu; and we’re revelling in the sounds of nature with Volvo.

PLUS we are taking a closer look at the Bobcat L95 compact wheel loader.

Join us LIVE for your daily fix of news, views, video and comment from the world of demolition and construction.

Come for the news and stay for the chat in our after-show discussion session, The Craic.