Overview:
On 7 October 2025, David Kemp and Richard Hunt of Exigen Group were appointed Joint Administrators of Tucker Mechanical and Electrical Building Services Limited, a Hull-based construction firm specialising in mechanical and electrical building services. Incorporated in 1999, the company faced severe financial pressures due to HMRC arrears and bad debts, leading to its Administration.
Financial Challenges:
The construction sector has faced persistent difficulties in recent years, and Tucker Mechanical and Electrical was no exception. Rising costs for labour and materials, combined with complex operational arrangements, placed significant strain on cashflow. HMRC arrears and bad debts compounded these issues, creating a financial position that became untenable. Despite efforts to manage liabilities, the business was unable to recover, leading to Administration.
Exigen’s Appointment and Outcome
David Kemp and Richard Hunt of Exigen Group were appointed to safeguard value and explore options for continuity. While most staff were made redundant, Exigen implemented a strategy to protect debtor collections and facilitate a partial sale of assets. This approach helped preserve certain jobs and mitigate further losses, ensuring some elements of the business could continue under new ownership.
Administrator Comments
David Kemp of Exigen Group commented:
“Construction continues to be a challenging space because of complex operational arrangements, a propensity for disputes and general rising costs, particularly labour and materials. Once liabilities start to accrue, it can be a slippery downhill trend. Carefully choosing clients, closely monitoring job progress and ensuring contracts are watertight can help avoid turmoil. If the position becomes untenable, restructuring with a trusted specialist is always a viable option.”