The construction business, which previously had contracts for high-profile projects in London, including Newington Butts, 100 Bishopsgate and One Blackfriars has appointed administrators and ceased trading.  

Despite reporting a turnover of £74m last year and with £96m forecasted for this year, the Dunne Group has reported severe cash flow pressures which has forced them to close, leading to the loss of 524 jobs across the group.

FRP Advisory has been appointed as administrators to the Dunne Group. Tom MacLennan, a partner at FRP and joint administrator, said this news was a sad loss for the construction industry. 

“The business faced substantial trading losses on some contracts, leading to severe cash flow pressures. 

“Additionally, rapid expansion led to pressure on working capital and a requirement for significant additional funding that was not available.”

A team of 16 staff will be retained to assist with the closure process and realisation of the business’s assets. 

“Our priority is to work closely with all agencies and services to ensure employees receive every support and assistance at this very difficult time,” Tom concluded.