{"id":15910,"date":"2023-04-26T10:13:53","date_gmt":"2023-04-26T17:13:53","guid":{"rendered":"https:\/\/essential.construction\/news\/metnor-supply-chain-debts-hit-10m\/"},"modified":"2023-04-26T10:13:59","modified_gmt":"2023-04-26T17:13:59","slug":"metnor-supply-chain-debts-hit-10m","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/metnor-supply-chain-debts-hit-10m\/","title":{"rendered":"Metnor supply chain debts hit \u00a310m"},"content":{"rendered":"<p> <a href=\"https:\/\/essential.construction\/files\/membership-default-internal\/\" class=\"memberhide\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/01\/20220718_175041000_iOS.jpg\" alt=\"-\"><\/a><br\/><br \/>\n<\/p>\n<div id=\"post-474222\">\n\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>An update from administrator FRP Advisory Trading Ltd said 468 creditors had been identified so far since the Newcastle-based contractor collapsed in February.<\/p>\n<p>FRP blamed Mentnor\u2019s demise on the withdrawal of a key funder alongside rising costs and loss making contracts.<\/p>\n<p>The administrator said unsecured creditors could expect some payment for their invoices but it only expected to be pennies in the pound.<\/p>\n<p>Latest results for the company show it made\u00a0 a profit of \u00a31.3m during the year to December 31 2021 from a turnover of \u00a362.6m while shareholder funds stood at \u00a34.6m.<\/p>\n<p>Metnor worked across the UK as a main contractor in sectors including residential, healthcare, student accommodation, hotel, leisure and commercial.<\/p>\n<p>Its sister business M&amp;E contractor Norstead also failed just days after Metnor with an update from administrators expected to be filed at Companies House shortly.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>468<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n<div class=\"author-info\">\n<div class=\"sleeve\">\n<div class=\"author-avatar\">\n<div class=\"sleeve\">\n\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><!-- .author-info -->\t\t\t<\/footer>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5143531171910809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- News - Bottom -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-5143531171910809\"\r\n     data-ad-slot=\"8320848692\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.constructionenquirer.com\/2023\/04\/26\/metnor-supply-chain-debts-nearly-reach-10m\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An update from administrator FRP Advisory Trading Ltd said 468 creditors had been identified so far since the Newcastle-based contractor &#8230; <a title=\"Metnor supply chain debts hit \u00a310m\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/metnor-supply-chain-debts-hit-10m\/\" aria-label=\"Read more about Metnor supply chain debts hit \u00a310m\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[],"class_list":["post-15910","post","type-post","status-publish","format-standard","hentry","category-construction-enquirer","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/15910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=15910"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/15910\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=15910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=15910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=15910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}