Osborne administration extended again as recovery efforts continue

The administration of collapsed contractor Geoffrey Osborne has been confirmed to continue until April 2028, as efforts to recover debts, retentions, and other assets continue.

In the latest progress report from RSM UK Restructuring Advisory confirms, joint administrators Damian Webb and David Shambrook said the court-approved extension would allow continued pursuit of complex asset recoveries. 

Highlighting ongoing uncertainty over the timetable for its anticipated dissolution, they said: “It is not yet possible to ascertain at present when the administration will end.”

So far, recoveries remain limited.

During the six-month period to 29 April 2026, £68,311 was recovered from a total of £856,232 in assets, with £5 million owed across debts, retentions, and work in progress.

Major recoveries in this period included £50,000 from Clan (Regent Property) for a contract, £18,973 from sister company Osborne Developments (Venta), and £11,094 from Ashford Borough Council related to land sales.

Smaller refunds come from Clyde & Co of £4,471 for overpayments and accrued interest and Brighton & Hove City Council of £573 for overpaid business rates on a Brighton property.

A further £2,222 was accrued in bank interest. 

Despite these recoveries, unsecured creditor claims of nearly £35 million remain largely unpaid, with HMRC owed £1.83 million and former employees due £134,761 in unpaid wages and holiday pay.

Specialist advisers Naismiths continue to pursue outstanding balances, with Assersons assisting with legal action and counterclaims across multiple contracts.

Administrators said: “At present, no further information can be provided, as doing so may prejudice the outcome of the ongoing proceedings. Further details will be provided in due course.”

Work is also under way to determine potential pension-related refunds with assistance from Clumber.

Headquartered in Surrey, Osborne entered administration in April 2024, having cited “significant headwinds”, including inflation, Brexit impacts and a slowdown in public sector procurement.

At the time of collapse in April 2024, Osborne had eight live contracts worth £1.8 million.

In its last available accounts to 30 September 2021, Osborne reported turnover of £325.8 million but owed £45.1 million, with 504 trade and expense creditors owed £25.8 million.

Payment to creditors remain “uncertain”.

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