Cleveland Bridge administration extended due to unpaid Sri Lankan debt

The administration of the collapsed British steelwork specialist Cleveland Bridge has been extended for another year, until July 21, 2027. The extension is due to unpaid debts owed by the Sri Lankan government regarding a project to supply and install 250 bridges.

Administrators at FRP Advisory reported that while the Sri Lankan Ministry has confirmed the outstanding payment is agreed upon, the funds have not yet been received. Approximately £480,000 remains due to Cleveland Bridge, with roughly £360,000 of that intended for Sri Lankan subcontractors. The project, which was supported by £49 million from UK Export Finance, is now outside its defects liability period with all issues resolved.

FRP Advisory stated the extension is necessary to allow more time to recover the funds and manage remaining tax and banking matters in both Sri Lanka and the UK. Administrators have sought assistance from the British High Commission in Sri Lanka and Deutsche Bank to resolve the matter.