Administrative receivership for FC Shepherd

FC Shepherd directors have made an 11th hour move to enter administrative receivership.
Creditor Brent Fabrications put in a winding-up petition for work owed from Lewisham Hospital last month (CJ 6 October).

It is understood between £500,000 and £600,000 is owed to creditors, although a source said there was more than £1m owed to different companies. The principal creditor is Barclays Bank.

Barry Knight, who was appointed receiver last week, said that the administration application to the courts “kicked the winding-up petition into touch”.

Knight said he would be meeting FC Shepherd director Nicolas Wright to discuss the administration. “We will be seeing him next week to formalise the arrangements of occupation or vacation of the premises.”

Alderney Construction was incorporated three days after the company received the petition and trades from the same address as FC Shepherd.

Knight added: “I’m aware that the directors have other companies – these are the things that have got to be looked at. Unfortunately the system cannot always be watertight.”