A major Altrincham-based construction firm has fallen into administration, with 40 staff losing their jobs.
FK Group, which has its headquarters at Keenan House on Stockport Road, has seen its main trading subsidiaries FK Construction and FK Facades enter administration after filing notices of intention last week.
The building envelope specialist, which has been operating since 1979, employed 164 staff as of March 2024, though this number had already fallen before this week's announcement.
The company has blamed prolonged industry pressures for its collapse, including inflation, delays related to the Building Safety Act, constrained insurance markets, and a historical claim from the administrators of collapsed contractor ISG.
FK Group's most recent accounts, filed with Companies House, showed the group fell to a £5.9m pre-tax loss in the year to March 2024, with turnover dropping 23 per cent to £100.6m. FK Construction reported a £7.5m pre-tax loss over the same period after booking £5.5m of exceptional items related to its dispute with ISG.
The accounts also revealed the group suffered a cyber-attack in September 2024, though directors said disruption had been minimal.
Two of the group's other operations, its Premo manufacturing arm and remediation contractor FK Resolv, will continue trading and are unaffected by the administration.
A spokesperson told the Construction Enquirer the company would now operate with a reduced footprint, focusing on facade delivery, design, manufacturing and remediation services.
"This restructure gives us a simpler, more resilient platform," the spokesperson said. "We are now focused on the areas where we add the most value, with a clear operating plan and a stable base for the future."
The collapse has affected work on two major projects: Multiplex's Elephant and Castle development in London and Sisk's expansion of Manchester City's Etihad Stadium.
FK Group's previous work includes The Spine in Liverpool, the Main Stand at Anfield, and Manchester Cancer Research Hospital.
FK Group has been contacted for comment.
