Administrator’s report details desperate battle to save stricken Cleveland Bridge

By Dave Rogers2021-09-15T11:54:00

Firm set to cease trading by end of month owed £22m at time of collapse

Cleveland Bridge first approached a restructuring specialist about its worsening financial problems at the start of this year, months before the firm sank into administration owing creditors nearly £22m.

The steelwork contractor’s finance director Phil Heathcock contacted FRP Advisory in January about getting hold of more working capital to allow it to keep trading in the latter part of this year.

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