The construction company Dawnus Group has gone into administration after work was halted on numerous UK projects.
Restructuring partner at Grant Thornton UK, Alistair Wardell, confirmed: “The Dawnus Group has struggled with a wide variety of challenges and despite significant efforts to turn the business around but unfortunately it has not been possible to rescue the group. As a consequence, the future cash flow has meant that the business was not in a position to continue to operate, including completing existing works in progress.
He added: “Whilst the financial difficulties of the group were not a consequence of Brexit, there is no doubt that Brexit uncertainty impacted the ability to rescue the business.”
Dawnus Group is based in Swansea and employs 700 people.
Dawnus has 44 active construction sites across the UK. Works halted at several sites over the last few days, including at Swansea’s £12m Kingsway development.
The most recent company accounts reported a turnover of £170m in 2017 but posted a pre-tax loss of £1.35m.
Dawnus has previously operated abroad, including in West Africa and on projects during the Ebola outbreak.
Grant Thornton is only dealing with the Dawnus Group. It is not involved with Dawnus International, Dawnus Sierra Leone or Dawnus Liberia.