Administrators seek buyer for historic lifting firm

Wed, 30 Nov 2016 | ADMINISTRATION

Administrators for a collapsed lifting equipment specialist say they are speaking to interested parties about a sale of the business.

Lloyds British Testing, which was founded in 1812, has seen a decline in revenues and faced cost pressures. 200 jobs are at risk as a result of the administration.

The business, headquartered in Sutton Coldfield in the West Midlands, provides engineering services including inspection, testing, operator training, design and manufacture and equipment sales.

Administrators PricewaterhouseCoopers (PwC) said it was hopeful it could secure a “successful outcome” for Lloyds British Testing, which has 12 sites across the UK and operates in 24 locations around the world.

PwC’s Michael Denny, David Baxendale and Matthew Hammond have been appointed as joint administrators.

Mr Baxendale said: "We are continuing to trade the business as normal whilst discussions take place with interested parties around a sale.

“We are working closely with the company employees, customers and suppliers as we seek to achieve a successful outcome for all stakeholders."

Find building and construction businesses in administration.


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