Engineering firm for sale after hitting cash problems

Business advisors are looking for buyers for an engineering firm which helped build London’s Olympic Village (pictured) after it hit financial difficulties.

Engineering Services (Humber), which specialises in the design, supply, fabrication and installation of plastic pipe systems was formed in 1964 and had clients including the Olympic Village, The London Dome, Robin Hood Airport, HM Prisons and Balfour Beatty.

The Retford, Nottinghamshire company went into administration with the loss of 41 jobs after hitting financial problems and is now in the hands of joint administrators Tyrone Courtman and Nick Edwards, of Cooper Parry. They said they had “received a few inquiries” and are looking to sell the business, or parts of it, as a going concern.

Courtman said: “Engineering Services had been experiencing increasing cash flow difficulties over the last few months and despite management’s best attempts to secure the company’s future, this ultimately was not possible.

“Unfortunately, it was concluded that the company was not in a financial position to continue to trade and all employees had to be made redundant.”

Cooper Parry is now looking for ways on how to complete the remaining order book and has appointed quantity surveyors to help.

This material is protected by copyright Ken Hurst 2011.

About Ken Hurst

Ken Hurst began his career as a journalist in London over 30 years ago, working on a range of publications before moving on to weekly newspaper production in the newly-independent Zambia of the 1970s. He returned to the UK where his work included spells on newspapers and magazines, before moving to head up Norwich Union’s corporate affairs division. In the 1990s he moved on to freelance, co-own and publish the B2B audio magazine Sound and front the BBC radio Yesterday’s Papers programme. There followed six years as Business Editor at Britain’s biggest selling regional daily newspaper, The Eastern Daily Press, where he led an award-winning team and for whom he still writes a weekly socio/political comment column. Subsequently, he was Group Editorial Director at CBM, responsible for its UK and US magazine output – including The Manufacturer magazine – research-driven industry reports and live events content. Currently he is Contributing Editor at Works Management magazine publisher Findlay Media and Chairman of the consumer publishing house TNT Multimedia Ltd. He is a Fellow of the Royal Society of Arts and of the British Association of Communicators in Business.
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