The former owner of a construction company, once crowned the best in Medway but which went into liquidation two years ago, has agreed a multi-million pound deal to exit one of its final contracts.

DCB (Kent) was based in Hartlip, near Sittingbourne and was crowned Medway Business of the Year in 2015.

But after several ownership changes it was hit hard by the pandemic and called in the administrators in 2022. Liquidators were appointed in May of this year.

Once employing more than 100 staff, it had been last sold just months before going into administration for £5 million from property services group Kinovo to MCG Global.

Following its collapse, funding was required to complete a number of its legacy projects.

Now Kinovo has confirmed it has reached a deal to terminate its contract for the ninth such project for £2.2m.

Seven others have already been completed and an eighth is expected to be concluded by the end of this month. In total Kinovo has paid £12.9m to complete the projects. They are believed to be housebuilding schemes.

The deal releases Kinovo from any future liabilities and obligations from its former subsidiary.

A statement said the agreement “will draw a line under the legacy projects of DCB, enabling the company to focus on the core business and its ambitious organic growth strategy”.