Wed, 24 Nov 2010 | ADMINISTRATION
Midlothian-based building contractor ERDC Group has filed for administration following 'well publicised difficulties in the construction sector.'
The group, which has operated from its Newbridge headquarters since 1955, comprised three divisions - Civil Engineering, Building and Sports Surfacing – and employed more than 200 staff at its peak in 2006. It serviced clients across Scotland and the North of England.
Amongst its well established client base, ERDC had a sole supplier agreement with FieldTurf, the synthetic grass supplier, which it then utilised to secure contracts with schools across the country, football pitches and HM Prisons.
KPMG's Blair Nimmo and Gary Fraser were appointed as administrators last week and are currently 'assessing the company’s financial position before looking to maximise realisations for the benefit of all creditors.'
Out of ERDC's 79 employees, 73 have been made redundant following the administration. Six staff have been retained in order to assist KPMG with the process of realising ERDC's business and assets.
KPMG attributed the administration to the financial downturn, which 'led to a marked reduction in tender activity, a delay in some large projects and persistent difficulties in obtaining payment from customers.'
Luxury public service hire business for sale situated in the South West due to retirement. The business supplies refined and standard lavatory trailers to the event market.
The business publishes a fortnightly print and digital magazine, covering UK and international engineering industry news, machinery updates, financial insights, and company profiles. With a readership exceeding circa 45,000 globally, including 20,000...
The business was first established by our client in 2023, building up an excellent reputation and regular customer base during its short time trading. As seen by the online ratings and reviews, the business is extremely popular within the area.
LEASEHOLD
07
|
May
|
In vitro diagnostics regulatory consultancy acquired by listed firm | BUSINESS SALE
Abingdon Health, a listed diagnostic test manufacturer based...
07
|
May
|
UK administrations update: April 30 – May 7 | ADMINISTRATION
Since our last update, the following businesses have been co...
07
|
May
|
Plant and vehicle hire group acquired out of administration | BUSINESS SALE
A Leicestershire-based supplier of specialist plant and vehi...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.