Fri, 25 Oct 2013 | ADMINISTRATION
Electrical cabling business Murphy Limited has entered administration after being hit by cashflow difficulties and will be wound down by the administrators with a sale of its business and assets sought.
Nicholas Guy Edwards and Robert James Harding of Deloitte are handling the administration process for Murphy, which has no connection with J Murphy & Sons, also known as Murphy Group in the sector.
The administrator halted trading at the North London-based business on Wednesday, and has made 293 employees redundant. The remaining staff have been retained to assist the administrators while they seek options to dispose of Murphy’s business and assets.
Murphy employed 327 people across several sites including its London headquarters, Manchester, Penrith, Preston, Sheffield, Ashford, Bradford and Stanlow.
Established in 1957, the firm specialised in laying underground electrical cables mainly for utility companies.
The broader group, including Clear Route Utility Services Ltd, Northern Reliable Industrial Services Ltd and Reliable Construction Ltd, is not in administration and continues to trade as normal.
Administrator Mr Edwards commented: “The company has suffered a prolonged period of difficult trading, which has resulted in it being unable to meet its financial obligations.
“We have sought to retain a number of employees for the present time to assist the administrators with an orderly wind-down and sale of Murphy’s business and assets.”
____________________________________________________________________________
Related information:
Contact the administrator here
Companies in administration
Tips on acquisition strategies
This high-class restaurant in South Yorkshire is a rare opportunity, featuring a prime city-centre location and a vibrant, elegantly designed interior.
LEASEHOLD
This well-established stoves and cookers business in East Sussex offers a tastefully organised setting with spacious showrooms, a large office, and nearby warehousing featuring excellent facilities like a forklift.
LEASEHOLD
This well-established mechanical, plumbing, and electrical contracting and maintenance business boasts an exceptional reputation, having operated for around 50 years with a focus on the education and health sectors.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.