Alucraft Systems appointed to job last year
A cladding firm that was working on the new Everton stadium project has formally gone into administration.
Administrators from PwC were appointed to Staffordshire-based Alucraft Systems last week, according to documents filed at Companies House.
Alucraft was appointed to the Everton job last February and, according to a company announcement, was due to start on the Bramley Moore Dock scheme last May.
In a post on LinkedIn last month, the firm said it was “making great progress” on the job and added: “We’re delighted to share the successful installation of the initial batch of cladding panels on site, with further installations already scheduled.”
In its latest results for the year to December 2022, the firm, which is based in Tamworth, saw pre-tax losses widen to £5.7m from £2.4m on turnover up a quarter to £18.7m.
In the accounts, the firm said it racked up £3.2m of exceptional costs during the year. It said it was owed money “on four problematic contracts [but] subsequent to the year end the directors now consider the amounts owed by the contract counterparties to be unrecoverable”. It said this was because of “challenging trading conditions experienced by the counterparties during the covid-19 pandemic”.
In the accounts, the firm, which employed 82 staff in 2022, added it was expecting to turn in a profit last year.
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