Devon-based regional contractor Web Group is expected to be formally placed in liquidation by the end of the month following a creditors' meeting last week.

The company - which undertook construction, civil engineering and design-and-build contracts up to the value of around £3m - went into administration in January.

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(12 March 2008 00:00)

Devon-based regional contractor Web Group is expected to be formally placed in liquidation by the end of the month following a creditors' meeting last week.

The company - which undertook construction, civil engineering and design-and-build contracts up to the value of around £3m - went into administration in January.

Around 50 people were laid off shortly afterwards, while a skeleton staff remained to complete a few ongoing profitable jobs.

Joint administrator Kirk Hills chartered accountants failed to find a buyer for the company and it was decided to put the company into liquidation at a creditors' meeting last week.

In its last available published set of accounts for the year ended 31 May 2006, Web suffered a pre-tax loss of more than £376,000 - a slight improvement on its £473,000 loss the year before. No turnover figure was included in the abbreviated accounts.


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