Administrator Forvis Mazars has told supplier and subcontractors there is little prospect of seeing any return on the cash they are owed.<\/p>\n
A report from administrators shows that the collapse left the firm\u2019s 127 staff owed around \u00a3214,000 in unpaid wages and entitlements.<\/p>\n
The long-established family-rrun contractor hit serious trouble on a series of fixed-price London jobs, including the Riu Hotel in Victoria and Ebury Bridge flats.<\/p>\n
What began as high-profile schemes secured in the bounce back after the Covid pandemic soon turned into loss-makers as soaring material costs, supply chain problems, labour shortages and project delays combined to hammer margins.<\/p>\n
Administrators said the southern division\u2019s projects marked the start of the company\u2019s financial collapse, diverting management focus and draining cash from the wider business.<\/p>\n
By August 2023, several London schemes were under mounting pressure, prompting a full review that uncovered \u00a320m of losses across six projects.<\/p>\n
Despite long-standing client relationships and shareholder support totalling \u00a317m \u2014 including a \u00a39.9m equity injection in June 2025 \u2014 the firm was hit by the withdrawal of credit insurance, project cancellations and the collapse of a key client.<\/p>\n
An attempted \u00a35m fundraise in early 2025 briefly stabilised the company, but by summer it had run out of cash with suppliers refusing to deliver materials forcing HE Simm into administration in early September 2025.<\/p>\n<\/p><\/div>\n
<\/p>\n