Administrators from insolvency specialist Begbies Traynor have been appointed to Builders’ Merchant Company (BMC), a builders merchant retailer business with its headquarters in Scunthorpe and additional outlets in Rotherham, Hull and Goole.
The company was the subject of a winding up petition last month. Administrators were appointed after attempts to sell the company through the accelerated mergers and acquisitions (AMA) process failed to secure a buyer.
All 26 employees have been made redundant and the joint administrators are hoping to sell the freehold property and assets of the business.
Founded in Scunthorpe in 1928, Builders’ Merchant Company was the largest independent timber and building supplies supplier in Lincolnshire. Between 2016 and 2019 the business opened branches in Hull, Rotherham and Goole.
Joint administrator Andrew Mackenzie of Begbies Traynor said: “Unfortunately the construction industry continues to face extremely challenging conditions and the knock-on effect of that is being felt by suppliers including Builders’ Merchant Company. We are now working hard to maximise the value of the company’s assets and ensure the best possible return for creditors.”
