Jersey’s major construction contractor, Camerons has become insolvent and has ceased trading with immediate effect.
It is reported that Camerons’ Board of Directors said ‘a period of financial difficulty’ had been caused by many factors, including Brexit and the Covid-19 pandemic.
The company had built multiple properties during its 66 years. The parent company of Camerons Ltd is Garenne Group, who also own RG Falla, AFM, Geomarine, Granite Le Pelley and the Rabeys garages in both Channel Islands.
Brian McCarthy, Managing Director of Le Masurier said: “The past few years have been challenging for the construction industry and Le Masurier is deeply saddened by the news that Camerons will cease trading. We have been working with the construction firm on our Merchants Square development, which is still ongoing.
“I would like to reassure purchasers, homeowners and sub-contractors that alternative arrangements are already in place, and construction will continue as planned with Le Masurier effectively stepping in directly to complete the development.
“We are fully committed to see the development on Bath Street through to completion and have adequate funding and resourcing in place to achieve this.”
Murray Norton, Chief Executive of the Jersey Chamber of Commerce said it is saddened to hear the news of the decision of one of their members, Camerons Limited, to cease trading effective immediately.
“Our thoughts go to all immediate staff and workers that will be impacted by the announcement.
“In a small community like Jersey where Camerons have traded prominently in construction over the years, Chamber are concerned that there will be further impact of the announcement to other members, including clients, sub-contractors and suppliers.
“The Chamber’s Building, Housing and Environment Committee would encourage Chamber members who are worried about the announcement and any future impact to get in touch with Chamber, for support and suggestions on how they can prepare for any next steps.
“The Committee would also encourage members of the local banking community, who look after the financial interests of some of the sub-contractors and suppliers that may be impacted by the announcement, to check on their customers and ensure they are supported through the immediate next steps.”
“The news of Camerons decision to cease trading is a bitter blow to the local construction industry, coming as it does soon after the events associated with the Covid Pandemic and the impact of the ongoing war in the Ukraine on building materials costs in the island”, commented the Chair of the Chamber’s Building, Housing and Environment Committee, Mr Simon Matthews.
“There will be many of the Chamber’s members impacted by the announcement. Chamber would encourage all of the Island’s business and financial services communities to rally around and support the individuals involved. We would also ask client organisations impacted to make every effort to honour the agreements Camerons had made with their suppliers, to ensure the consistent employment of those individuals involved on the projects involved.”
