Jersey building contractor Camerons Ltd goes bust

Andium Homes had contracted Camerons Ltd to construct Ann Court, but responsibilities will now be passed to Rok Construction

A major construction contractor in Jersey has become insolvent.

Camerons Ltd has ceased trading with immediate effect and is in the process of commencing formal proceedings to wind down its business.

Its board of directors said a "period of financial difficulty" had been caused by many factors, including Brexit and the Covid-19 pandemic.

The company had built multiple finance buildings, schools and other properties during its 66 years of work.

A statement provided by the Garenne Group, the parent company of Camerons Ltd, said rising interest rates, supply chain issues, materials and labour shortages had also caused it to cease trading.

It said: "Having exhausted the options available to it to try and renegotiate the terms of a number of problematic contracts without success, and having consulted with relevant third parties and with government, the Camerons' board feels that such a step is in the best interests of Camerons, having regard to the interests of Camerons' creditors as a whole.

"The sites on which Camerons has been operating, and all property and assets on those sites, have been secured."

Andium Homes executive director Ian Gallichan said the decision "was a shock"

Andium Homes executive director Ian Gallichan said responsibilities at its building site Ann Court would be passed to Rok Construction.

He said: "Regrettably, Camerons, the contractor here, has declared themselves basically insolvent this morning and has advised their workforce.

"What Andium has done is step in and take over the site and appointed another contractor, Rok Construction, in order that the contract will be completed."

Camerons employed about 50 people directly, but also created work for many subcontractors.

Mr Gallichan said employees of Camerons and subcontractors would continue to work on its site.

He said it was "very upsetting" for the company and it had "asked Rok to step in immediately and pick up the direct employees and subcontractors".

Camerons' has begun the process of commencing formal proceedings to wind down its business

The property investment and development company Le Masurier said alternative arrangements had been made to continue construction at one of its sites.

Managing director Brian McCarthy said: "We have been working with the construction firm on our Merchants Square development, which is still ongoing.

"I would like to reassure purchasers, homeowners and subcontractors that alternative arrangements are already in place, and construction will continue as planned, with Le Masurier effectively stepping in directly to complete the development."

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