Top Service News
Crisis Situation at Henry Construction Projects Ltd
Published on
As the construction sector’s only specialist credit reference agency we have been monitoring the situation closely and have been providing our members with up-to-the-minute updates.
We have been tracking sporadic periods of slow payments by Henry Construction Projects Ltd for the past decade but the frequency of slow payments has increased over the past twelve months.
Due to insider information gleaned from our 3,000 members we reduced the company’s recommended credit limit to zero in September 2022. We currently have almost 200 reports of late or non payment from our construction industry members.
Numerous early warnings have been sent to our members, warning them of the increased risk.
We have successfully collected just over £600k on behalf of our members during the first half of 2023.
The company was set up 13 years ago by William Henry as a small civils and groundworks company. Since then it has grown into a multi-disciplined construction contractor turning over more than £400m per annum primarily concentrating on residential and mixed use projects in the South East. The company is currently owned by 45 year old Mark James Henry.
The company was in the news last month as it was fined £234k by Westminster Magistrates Court for a preventable ‘fall from height’ incident two years ago which injured a Romanian national. It’s not known whether this fine has been paid.
Emma Reilly MCICM MCIM CEO of Top Service, commented:
“We are monitoring this situation very closely and keeping our members informed. At this stage of play it is very unlikely that the company will be able to avoid insolvency proceedings”.