Liquidation talks for UK construction firm with £2m debts

A meeting is scheduled for July 10 at 10am to discuss Gravel Rock Limited’s ‘creditors voluntary liquidation’.

The creditors of the company will convene virtually and vote on whether the business, which was based at Oxford Business Park, should be liquidated.

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The company’s website no longer works but it is described as the construction arm of the GRE Group with the ability to undertake complex construction contracts worth up to £75 million.

In addition, it reportedly oversaw the development of 246 apartments, 26 townhouses and a new public realm called Ashford Riverside Park.

Oxford Business Park (Image: Google Maps)

In its latest accounts, which were to March 31, 2025, it listed creditors falling due within one year of £2,000,427, a significant decrease from the year before of £17,430,987.

Much of this was owed to the wider GRE Group.

Those accounts were prepared on a ‘going concern’ basis, which means there is an assumption that the business will keep operating for the foreseeable future.

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Even so, the business was wary of the risk and noted that it may not secure sufficient future projects, which is dependent on land availability, construction costs, interest rates and demand for housing, either to buy or rent.

The statement added:” These risks are inherent to the industry, which is also sensitive to changes in the general economic climate and represent a material uncertainty that may cast significant doubt on the recovery of the debt and the group’s ability to continue as a going concern.”

Its number of employees in its accounts was listed as two down from five the year before.