The firm has a 100,000 sq ft factory and recently won places on the government’s £10bn Offsite Solutions Framework and LHC Procurement Group’s Modern Methods of Construction of New Homes (NH3) Framework.
Latest accounts for M-AR show the company had a turnover of £29.9m for the year ended March 31 2022 generating a pre-tax profit of £815,000.
The accounts also show the company employed 73 people and owed £3.9m to trade creditors.
M-AR has been in business for more than 15 years and recently updated its mission statement to “Being brave enough to drive change through fresh thinking and collaboration in everything we do. Delivering exceptional projects, breaking down the barriers and inspiring a new generation of construction professionals.”
One supplier said: “There’s a lot of money out there owed by M-AR so this could have a devastating effect again on the supply chain.”
Data and credit checking specialist Red Flag Alert highlighted the firms’ administration notice with its regular checks of high court construction insolvency applications.
Subscribers to the Red Flag Alert service benefit from early warnings about the financial health of companies to help them avoid bad debts.
The Enquirer has linked-up with Red Flag Alert to offer readers a discount on its services and help you avoid worthless invoices from insolvent companies.
For more information and to benefit from the Enquirer discount click here.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : ConstructionEnquirer – https://www.constructionenquirer.com/2023/10/19/modular-contractor-m-ar-files-administration-notice/