Sat, 09 Mar 2019 | ADMINISTRATION
WDR & RT Taggart, thought to be one of Northern Ireland’s oldest businesses dating back to 1902, has fallen into administration as a result of difficult market and trading conditions.
The Belfast-based construction and design company was forced to call in insolvency practitioners Gildernew & Co. to handle the administration process. With architects, structural and civil engineers working for the company on a variety of projects in the public sector, the business employs more than 30 members of staff in offices in Belfast and Londonderry.
A part of business has been acquired by WDR Taggart Limited – a newly formed company – before the remainder went into administration. The acquisition includes the waste and energy services and architectural side of the business.
Managing partner, Stephen Heaney, said: “It is with great sadness and deep regret that we have been forced to call in the administrator following a protracted period of trading difficulties and challenging market conditions.
"Despite the skills, talents and experience of the outstanding team of professionals at the firm, the trading environment could not be overcome, leaving us in today's situation."
WDR Taggart Limited’s spokesperson commented: "The new company has a very experienced management team, and together with the employees who transfer to us, we will work to ensure that WDR Taggart Limited delivers quality services to clients.
"In time, in addition to securing the legacy of the parts of the Taggart business that we have acquired, we wish to grow and build new business."
For more news stories about administrations click here. For all our administrations listings, click here.
Delivers specialist shop fitting services for pharmacies, offering design, supply, installation and maintenance solutions to meet client specifications and complete projects to a high standard. Works with a number of blue-chip and independent pharmac...
LEASEHOLD
The highway successful business opportunity was established over 60 years ago by our client's family who is now looking to sell the business to simply retire. The fully equipped opportunity will include the extensive range of specialist equipment,...
LEASEHOLD
Provides kitchen and bathroom adaptations including grab rails, non-slip flooring and low-level storage for elderly or disabled clients, alongside standard building services.
LEASEHOLD
16
|
May
|
Manx Financial Group to acquire Payment Assist in potential £9m deal | BUSINESS SALE
Manx Financial Group Plc has announced the acquisition of Pa...
13
|
May
|
Assets set to be sold as modular housing joint venture enters administration | ADMINISTRATION
The US House Group modular housing joint venture has fallen ...
12
|
May
|
Bathroom panel firm acquired for up to 9.1x EBITDA | BUSINESS SALE
Bathroom and kitchen products firm Norcros has agreed a deal...
Sign up to receive our acquisition alert emails to get your FREE guide
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