Monday, 20 August 2012

WH Brown Construction in receivership

WH Brown Construction has gone into receivership following "difficult economic conditions".  The firm invested almost £1m in Dundee on a waterfront hotel project.  The firm has been trading for 40 years and it is likely that 130 jobs will be lost.   On its website the following statement has been added.

 "Derek Neil Hyslop and Colin Peter Dempster of Ernst & Young LLP were appointed Joint Receivers of W H Brown Construction (Dundee) Limited and Bronco Timber Products Limited (the Companies) on 20 August 2012. For any telephone enquiries please contact 01382 739 683."

The receivers said they were now focused on trying to establish the full extent of the company's debts.

It should be noted that this company has gone into receivership not administration.  Please read our pages on receivership to see how it is different from administration.

Mr Hyslop said: "Despite the best efforts of the directors, difficult economic conditions have resulted in a situation where the immediate cessation of trading is necessary at both companies.

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