North West contractor Mason Lord has collapsed 18 months after rescuing a fellow regional builder from administration.
Warrington-based Mason Lord stepped in to buy the assets of Merseyside builder Paragon Construction Group for £15,000 after it collapsed in March 2016, owing around £2m to unsecured creditors
Then Paragon managing director Paul Barrow was also a joint-owner of Mason Lord alongside co-director Jon Mason.
The pre-pack deal saved around 30 jobs at the £11m turnover Paragon as contracts were novated to Mason Lord.
But now Mason Lord has collapsed after suffering cash flow difficulties itself with administrators from Cheshire corporate recovery specialist Milner Boardman & Partners being appointed on 25 August.
The administration comes just days after Barrow was registered at Companies House as resigning his directorship of the Warrington building firm.
Mason Lord specialised in building luxury homes worth around £1m in the north west and also delivered the St Helens rugby stadium fit-out contract. Most recently it was working on a 25 flat scheme at Chancery Lane in St Helens.
Administrators refused to comment about the appointment.
from Construction Enquirer http://www.constructionenquirer.com/2017/09/04/north-west-directors-second-building-firm-collapses/
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