The contractor that has been working on the new Southern Connector Road in Wanborough for the last two years has collapsed.

Buckingham Group was one of the country's largest contractors but filed a notice of intention to appoint administrators on Wednesday, informing markets and customers it had ceased trading with immediate effect.

The company was in the middle of several large-scale national projects including work revamping the football stadiums of Northampton Town, Birmingham City and Liverpool.

And in Swindon, it had started work on the £40million New Eastern Villages bypass of Wanborough, the Southern Connector Road, on March 2021, and was just about to finish it this month. 

On Friday, sub-contractors were making the site safe, but no other work appeared to be progressing.

But the road will still open as planned later this summer.

In a statement, the company said: “It is with immeasurable regret that the Buckingham board has to announce that rapidly escalating contract losses and a sharp reduction in liquidity, together mean the company is unable to continue trading at this current time.

“We know that this will come as a shock to all our valued stakeholders.”

In an explanation of its position, it said: “Very strong delivery and commercial performance across most of the business has been outweighed by deep losses and interim cash deficits incurred on the three major stadium and arena contracts, and a substantial earthworks contract in Coventry.

“This situation on these four long-term major projects developed through a combination of unexpected impacts such as the extreme inflation linked to the Ukraine conflict and other challenges in the sports and leisure division."

The statement added that the company, who carried out the work on the large warehouse now run as an Amazon warehouse in Swindon, did try to find a saviour but hasn't been successful and that now, although not in administration yet, its 'main aim is to protect jobs and preserve as much of the business as possible'. 

The majority of the work on the Southern Connector Road had been completed and Swindon Borough Council were even looking to officially open it to the public soon. 

But residents have nothing to worry about, according to the council, as the road will still open as planned later this summer.

The cabinet member for environment and transport, Coun Chris Watts, said there would be no change to the plans.

He said: “We are sorry to hear about the financial issues facing Buckingham and our thoughts are with their employees at this unsettling time.

"We’d like to reassure local residents that the company’s difficulties will not affect the Southern Connector Road scheme as the road has been completed.

“Final road safety and legal checks are currently being carried out and, once all these are in order, we will be looking to open the road as soon as we can.”

Meanwhile, 

ward councillor Gary Sumner, who also oversaw the majority of the project as the former cabinet member responsible, has moved to reassure the public.

He said: "I think from my point of view I’m relieved that we’d reached the end of the project and a critical road has been delivered.

"The opening might be affected slightly whilst the legalities are resolved.

"Buckingham was a successful business and until the 10 days are up they are not yet in administration.

"The compound was removed last week and at least we have a finished scheme."