Newcastle-based contractor Metnor Construction has filed a notice of intent to appoint administrators.
According to its most recent accounts for the year to 31 December 2021, Metnor’s turnover was £62.6m, with a pre-tax profit of £942,000 and 65 employees.
The firm has worked across a range of sectors including leisure, healthcare and student accommodation, and according to its website has worked on jobs ranging up to £50m.
Its sister company, M&E specialist Norstead, which turned over £20.3m in 2021, has also filed a notice of intent to appoint administrators.
Metnor’s ongoing work includes a £17m job as principal contractor on a 8,000 square metre training centre for Northumbria Healthcare NHS Foundation Trust’s Cramlington Hospital. When construction began in August last year on the £32m project it was hoped that the venue would open in autumn 2023.
Developer Assura and Northumbria Healthcare NHS Foundation Trust have been approached for comment.
The firm’s new starts in late 2021 and early 2022 included a private rental-sector scheme in Warrington and a private medical facility in Northamptonshire.
Metnor’s 2021 strategic report described its future prospects as “extremely positive”, saying it had seen a “significant bounceback” from 2020’s COVID-affected results, when turnover was £48m.
It attributed the increase in turnover mainly to new starts, as well as the completion of some projects delayed by the pandemic.
A company representative confirmed to Construction News that Metnor had begun the administration process but did make any further comment.
In 2021, Metnor was contractor on a £50m build-to-rent scheme in Birmingham where developer the High Street Group went into administration owing up to £200m to creditors.
It was a finalist for Contractor of the Year in the 2018 CN Awards, when it was said to be focused on nurturing young talent and building supply chain relationships. At the time, its turnover had increased by 72 per cent in its most recent accounts, and it said it was “exploring fresh approaches to maintain sustainable growth”.