Thu, 24 Jul 2025 | ADMINISTRATION
Franklyn Yates Engineering, an East Midlands-based engineering firm specialising in providing mechanical, electrical, instrumental, control and automation services, has fallen into administration.
Based in Derbyshire, Franklyn Yates Engineering has extensive expertise in industries including power, water, energy from waste and process and anaerobic digestion.
The collapse of the company was attributed to challenging trading conditions arising from problems with a major contract, which resulted in cashflow difficulties. Tyrone Courtman and Gareth Harris of RSM UK Restructuring Advisory were subsequently appointed as joint administrators of Franklyn Yates Engineering Limited on July 15.
Following the appointment of the joint administrators, a total of 25 employees at the company have been made redundant. The administrators are now taking steps to realise the value of the business and assets to maximise realisations.
RSM UK Restructuring Advisory Partner and joint administrator Tyrone Courtman said: "Unfortunately the company had been dealing with challenging trading conditions following problems with one of its major contracts, which ultimately led to cashflow challenges.”
"Despite the continued support of its principal funder and its trade creditors, the company was unable to overcome these challenges.”
"We are currently working closely with Franklyn Yates's key stakeholders and employees, with a view to mitigating the impact of the company's cessation of its business and maximising realisations for the benefit of its estate. Any prospect of returns to creditors are currently uncertain."
In accounts for the year to December 31 2023, Franklyn Yates Engineering’s total assets were valued at approximately £5 million, with net assets amounting to slightly under £2 million.
The company is owned by the Greenbank Group, a specialist group of engineering companies providing design, manufacturing, supply and installation services to the power, rail, bulk-handling, EFW and water and wastewater industries.
The rest of the companies in the group are understood to be unaffected by the collapse of Franklyn Yates Engineering and continue to trade as normal.
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