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High risk and low margins drive Hydrock subsidiary into administration

Hydrock has announced that its land remediation business QDS Contracting has been put into administration.

The company described the decision as “difficult” and one that it had “reluctantly made”.

Hydrock has said that it will now focus solely on its core business of multi-disciplinary engineering design and consultancy.

“It is with great sadness and reluctance that as a board of directors we have had to take this decision,” said Hydrock managing director Brian McConnell. “Remediation contracting work is increasingly high risk and low margin due to the number of organisations expanding their reach into what had traditionally been a very specialist and technical sector.

“This situation has resulted in work packages proving to be commercially unsustainable in the long term. Coupled with some challenging, legacy projects, this has led to our decision to place QDS Contracting into administration.

“By contrast, Hydrock’s core business of multi-disciplinary engineering design and consultancy is well-established and successful, delivering for blue-chip clients, leading architects, developers and contractors across the UK.

This business has grown markedly over the last three years to become the most significant part of the group in terms of turn-over, profit and staff numbers, with over 400 staff employed in our consultancy business. We’re regularly out-performing the competition to offer clients an outstanding multi-disciplinary design approach that unlocks complex sites, creates value from property assets, and secures planning permission for future development.”

 

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