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Lynn construction company going into liquidation

chalcroft construction in king's lynn

Published by Chris Craddock at 4:37pm 20th February 2019. (Updated at 5:25pm 20th February 2019)

The King's Lynn based construction company that is building H&M is going into liquidation.

Chalcroft Ltd released a statement today (20th Feb) saying it was deep regret that they have taken this step.

It's thought between 15 to 20 jobs in West Norfolk will be lost as a result.

 

chalcroft construction in king's lynn
work is still expected to continue at the site

 

A statement from the company said:

"It is with deep regret that the Directors of Chalcroft Ltd confirm that the company is being placed in liquidation. This is as a result of a series of events within the business but moreover in the wider sector that have impacted upon our financial position and ability to operate sustainably.

"Working in liaison with our clients and sub-contractors, we can confirm that all outstanding contracts will be completed."

 

chalcroft construction in king's lynn

 

North West Norfolk MP Henry Bellingham said he was saddened by the news:

"For many years they have been a constant presence in West Norfolk and have contributed a huge amount into the local economy, including overseeing large contracts at firms such as Bespak and Mars - as well as being the main contractor on the H&M site in Lynn. They can be very proud of what they have achieved, and I have spoken to their Chairman, Mark Reeve, to offer my assistance and to seek reassurances."

"Mark Reeve also made it very clear to me that they were going to do all they possibly could to avoid any collateral damage to partners and creditors. He also explained that there should not be any concerns over the £4.5million H&M project in Lynn where Chalcroft have transferred all of their involvement to sub-contractors. Finally, he confirmed that he had taken measures to fully protect other businesses that might be exposed in their supply chain."

Cllr Alistair Beales, Borough Council of King's Lynn & West Norfolk Cabinet Member for Corporate Projects and Assets said:

"This is extremely unwelcome news not only given the company's involvement with the H&M project in town, but also because of the knock on effect of job losses in the area.  Chalcroft have long had a presence locally and it is regretful that the company is set to go into liquidation

"I can confirm that the council has no direct contractual relationship with Chalcroft, but we will continue to work with our investment partners to keep the H&M project on track. This development is key for the future of the town centre.

"I understand that a number of actions have already been taken to ensure continuity on the H&M site, including varying the contract to enable direct payment of sub-contractors.

"Meetings have and will continue to take place over the following days and weeks, and officers at the council will do everything possible to support our investment partners to get this project completed."

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