Liverpool Football Club’s stadium builder ceases trading
By Mike Hayes17 August 2023
The company tasked with delivering Liverpool Football Club’s upgraded Anfield Road stadium has ceased trading.
UK contractor and stadium build specialist Buckingham Group announced it is unable to continue operations, following a rapid rise in contract losses and liquidity problems.
It is understood the company has also filed a notice to appoint administrators and will not be able to fulfil its commitment to complete the already-delayed new Anfield Road stand at Liverpool FC.
The cladding subcontractor on the project filed for administration at the beginning of the year, which stalled construction work, which may now not be completed by mid-October, as had been promised by the contractor.
Too many challenges
Buckingham is also currently building a new stand at Fulham Football Club’s Craven Cottage stadium in London, delivery of which had already been delayed by two years.
The football club recently told its supporters not to expect completion of the work before 2024.
On its website, Buckingham said, “Very strong delivery and commercial performance across most of the business has been outweighed by deep losses and interim cash deficits incurred on three major Stadium and Arena contracts, and a substantial earthworks contract in Coventry.”
The company said a “combination of unexpected impacts” including rising inflation, as well as the Ukraine conflict and “other challenges” had led to its decision to cease trading.
“As a result of the recent challenges,” said the statement, “the board has filed a Notice of Intention to appoint Administrators to protect the business whilst we explore a sale of all or part of the business in a very short period.”
Buckingham stressed its “immeasurable regret”, adding “We know this will come as a shock to all our valued stakeholders.”