Directors of London-based building firm agree to move after winding-up petition is issued

London-based building firm Harry Neal is expected to be liquidated on 18 February.

The firm was founded in 1886, and had a turnover of £40m in 2008.

Directors of the company are understood to have held a series of meetings on Wednesday to discuss its future after a winding-up petition was issued against it on 27 January.

A source at Harry Neal said today that the firm had been left with no choice.

UHY Hacker Young is expected to be appointed liquidator.

It follows news last week that Redworth Construction, which had a turnover of £30m in 2008, was also facing the possibility of liquidation. A company voluntary arrangement was rejected by creditors of the Yorkshire-based contractor, which specialises in the care sector.

Since 10 December 2009, five county court judgments totalling £78,200 have been filed against the firm and a winding-up petition has also been lodged, with a hearing scheduled for 10 February.

Debtfocus, a debt management firm hired by Redworth, has told creditors that the directors of Redworth will not be contesting the winding-up petition, which may lead to the firm being liquidated.

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