BTG chosen for administration of FK Group

Facades contractor FK Group has appointed directors for the enterprise and subsidiaries FK Group and FK Facades. The £100 million enterprise appointed BTG to supervise the method.

Based in 1979, FK Group is a façade building agency based mostly within the UK. Using 164 folks, its latest jobs included Sisk’s growth of Manchester Metropolis’s Etihad stadium, whereas it beforehand labored on the principle stand at Liverpool, constructed by Carillion.

Just like the broader building sector, nevertheless, FK Group has endured main headwinds of late. In its final set of outcomes, FK Group booked a £5.5 million distinctive merchandise with the agency including the determine associated to a dispute “between FK Building Restricted, one of the Group’s subsidiaries and a essential contractor”. Particulars of the scheme usually are not revealed however the bust-up is known to narrate to a dispute with collapsed contractor ISG.

Accounts for the 12 months to March 2024 in the meantime noticed earnings stoop by 23% to £101 million, with the distinctive merchandise sending pre-tax losses leaping from £614,000 to £5.9 million. BTG (previously generally known as Begbies Traynor) was appointed to supervise an administration in February 2026 – practically 4 weeks after FK Group mentioned it was set to nominate directors.

BTG mentioned it had been appointed after “vital inflationary pressures post-covid amongst different challenges” lastly overwhelmed FK Group. Consequently, 57 employees misplaced their jobs, whereas 54 jobs had been transferred to Keenan Holdings, an aluminium and glazing producer and installer based mostly on the similar Altrincham tackle as FK Group.

Joint administrator David Hopkisn famous, “It is a vital restructuring of the Group’s property and operations. The administrators of the Group explored a quantity of avenues previous to this determination and established that this was one of the best route ahead for all stakeholders, collectors and the longer term of the Group. As half of this restructuring course of we might be centered on delivering one of the best end result for all collectors. This may embody realising the Group’s property for the profit of collectors.”