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.”
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