London groundworks specialist Corbyn Construction is set to appoint an administrator.
Corbyn made a £435,000 pre-tax profit from a £32.8m turnover in the year ending 30 June 2023 but has now filed a notice of intention to appoint an administrator.
The group turned over £46.1m in its preceding financial year but made a £5.1m loss.
The contractor, based in Gallions Reach in east London, delivered groundworks and concrete frames in the capital, including for major mixed-use and residential buildings up to 29 storeys.
Its clients have included Hill, Weston Homes, Telford Homes, Mulalley, Higgins and Taylor Wimpey, according to an overview of projects on its website.
The company has been contacted for comment.
Construction remains the sector with the highest rate of insolvency, according to data published by the Office for National Statistics last month, which showed 4,310 building firms collapsed in the year to 31 August 2024.
Only 28 construction firms entered administration in October, down from 37 in the same month a year earlier — but experts told Construction News that construction business models remain “highly fragile”.
