Hotel client collapse sends McGee £2.8m into red

Specialist engineering contractor McGee suffered a £2.8m pre-tax loss last year after being hit by a £3.6m bad debt from the insolvency of a client on a major London hotel job.
The setback reversed the employee-owned groundwork and demolition firm’s previous-year £5.3m profit as turnover also fell 11% to £134m from £151m in the year to November 2025.
McGee said the exceptional bad debt masked a much stronger underlying performance, with EBITDA margin at 6.5% o