A thorough investigation into the collapse of Bridgwater-based construction company Henry W Pollard and Sons Ltd, with debts exceeding £15 million, is set to continue well into 2026. This follows the discovery of a nearly £5 million shortfall in the company’s pension scheme.
The firm, which operated both in Bridgwater and Plymouth, entered liquidation in 2021 amid growing concerns over pension-related financial irregularities. Two years ago, the national law firm Weightmans was appointed to probe “pension-related misrepresentations” tied to the company’s financial statements. Legal fees already exceed £19,000 plus VAT, with barristers engaged in the process.
Joint liquidators from Bishop Fleming recently reported to creditors and shareholders that the investigation is ongoing. Interviews with major creditors and company directors have been conducted to clarify the accuracy of financial representations prior to insolvency. The liquidators have extended invitations to additional creditors to participate in these interviews, particularly focusing on those with significant claims not involved in insolvency proceedings.
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A detailed review of Pollard’s records, including board minutes, is underway to understand the management’s actions leading up to liquidation. Findings from this inquiry will shape potential further legal actions, with work expected to continue through 2025 and 2026.
Pollard’s collapse disrupted numerous high-profile projects across the South West. The company, established for 161 years, worked on sites such as Plymouth’s £13 million Teesra House apartment block, which now remains unfinished. Prior to liquidation, Pollard faced significant financial setbacks including the 2019 administration of a major client, resulting in a £715,000 loss.
Assets recovered so far include £970,000 from property sales and debtor payments, allowing partial settlements with secured creditors, taxes, and former employees. However, unsecured creditors face uncertainty as claims have risen from an estimated £8.7 million to over £15 million, mainly due to new claims related to live contracts and unpaid council dues exceeding £1 million.
Among the unsecured creditors are many small and mid-sized South West companies, including Plymouth-based firms XCAV8 (SW) Ltd, Beaumont Drylining Ltd, and PCB Electrical Service. Liquidators remain hopeful that ongoing pension-related legal proceedings will eventually enable distributions to these unsecured creditors.
Despite previous profitability, the firm’s downfall highlights vulnerabilities in the construction sector exacerbated by client insolvencies and pension fund deficiencies. The comprehensive investigation aims to clarify accountability and protect creditor interests as the process continues.