Readie Construction collapsed with debts of £34m

Essex-based contractor Readie Construction collapsed with total debts of £34m.
The £421m-turnover firm fell into administration in early February leaving over 440 subcontractors and suppliers out of pocket.
According to the statement of company affairs released by administrator Begbies Traynor, subcontractors alone are owed £18.8m.Other trade creditors were left £6m out of pocket, with around 158 staff also short £1.2m in wages.
HMRC counted as a preferred creditor