Colmore Tang Construction downsizes after £5m loss

Birmingham-based Colmore Tang Construction has downsized the business in a switch from major flats projects to delivering specialist cladding remediation.
The pivot in management strategy comes after a corporate body blow during the pandemic. This saw revenue slump to just £18m in 2021 from £53m previously.
As a result of Covid restrictions and higher costs, Colmore Tang booked a £4.95m loss in the year ending May 2021, which also resulted in current liabilities exceeding asset