Contractor filed notice of intention to appoint administrators on Wednesday

Buckingham Group Contracting has announced that it will stop trading and seek a buyer. 

The builder, known for its work on major stadium jobs, filed a notice of intention to appoint administrators on Wednesday, giving it 10 days of protection from credits while it explores a sale. 

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Months of efforts to find fresh investment after troubles on major stadium contracts came to nothing

In a statement issued yesterday, the company blamed 鈥渞apidly escalating contract losses and a sharp reduction in liquidity鈥� for its circumstances. 

鈥淰ery strong delivery and commercial performance across most of the business has been outweighed by deep losses and interim cash deficits incurred on the three major stadium and arena contracts, and a substantial earthworks contract in Coventry,鈥� it continued. 

In accounts filed at Companies Hou