Ardmore’s board filed moratorium notices for the seven group companies in June 2026 after placing Ardmore Construction Group Limited and its subsidiary companies into administration, following remediation claims and subsequent Building Liability Orders (BLO) on legacy residential developments, which the group continues to dispute.
Working with financial and real estate advisory group, BTG, and law firm Kingsley Napley, the CVA proposals were presented to Ardmore’s creditors in August 2026. Following a final vote last week, all CVAs were approved by creditors.
Cormac Byrne, chairman of Ardmore Group, who founded the business 52 years ago, said, “The decision to place our construction businesses into administration and subsequently present these CVAs has not been easy, but we acknowledge they have been critical steps in securing our future and supporting our creditors. We worked with BTG and Kingsley Napley to explore all realistic alternatives, including liquidation, but this proposal presents more favourable terms to our creditors and we’re pleased that the majority have voted in favour.
“Although this is a positive step, we are disappointed to no longer be operating as a main contractor. We remain immensely proud of the work we have done over half a century and I would like to thank everyone that has supported and worked in Ardmore’s construction businesses during that time. Collectively, we have been instrumental in enhancing London’s skyline and delivering some of the capital’s most impressive and complex projects which will be enjoyed for a lifetime.”
Got a story? Email [email protected]
