Administrators for collapsed contractor Acheson Construction have said they cannot confirm how much supply-chain creditors will receive, or when a payout will be made.
Richard Lewis and Alistair Wardell of Grant Thornton said they still expect to make a payout to unsecured creditors.
But its extent and timing cannot be determined, they added in their second progress report since being appointed in February 2025, as it is partly dependent on how much of Acheson’s contract debts can be recovered.
The Devon-based contractor owes 536 suppliers a total of £8.95m, according to its statement of affairs.
Construction contract debt recovery is “the primary matter remaining” in the administration, Lewis and Wardell said in their progress report.
Acheson was owed £70,775 in contract debts at the time of its collapse, but the administrators have been unable to recover any of this amount.
They have recouped £1.6m in asset realisations since their appointment, although just £28,243 was recovered in the six months to 17 February 2026.
The administrators have received secondary preferential creditor claims of £1m, mainly from HMRC which is owed £934,938.
Acheson’s administration process is due to end on 17 February 2027, after it was extended by 12 months last September.
The contractor was established in 1976 as a refurbishment and restoration specialist for heritage buildings.
It later expanded into new-build work in the education, industrial, commercial, residential and care sectors.
The firm’s turnover more than doubled from £23.5m in 2018 to £53.6m in its latest filed accounts for the year to 29 December 2023.
It posted a pre-tax profit of £45,996 in 2023, marking an improvement on the £477,276 loss incurred the year before.
Repeat clients included care home operator Barchester Healthcare, and Acheson also won places on frameworks for Aster Homes and Sovereign Network Group.
But the contractor was hit by increased costs on fixed-price contracts, delays in the commencement of new projects and a dispute over amounts due under a key contract, the administrators said when they were appointed.
All of Acheson’s 48 staff have been made redundant.
Last month, an employment tribunal awarded three months’ pay to 31 of these ex-employees after a judge ruled that Acheson had failed to consult them before the firm collapsed.
