Wed, 20 Feb 2013 | ADMINISTRATION
A Shropshire-based waste and recycling company, Wellings Ltd, has been placed into administration after poor trading hit the business.
The firm, which trades as Pink Skips, called in Grant Thornton on 18th February, with the loss of 37 of the 60-strong workforce. The remaining 23 staff have been kept on to help secure the site and assist in the sale proceedings. The administrators are now looking to find a buyer for the trade and assets of Wellings.
Wellings has three divisions offering; construction services, household skips and recycling, and waste management. Operating from a £5 million plant in Ketley, Shropshire, it deals with blue-chip companies, local authorities and domestic waste. The firm also takes care of demolition, aggregates, the management of hazardous waste and land regeneration.
The administrators said in a statement: “Following a period of trading losses and cash pressure the directors of the company decided to seek an outside investor or strategic partner to allow for the continuation and development of the company.
“Corporate finance advisors were engaged to undertake a period of marketing but unfortunately no formal offers were received.”
Some recycling bins were left full in the borough of Telford and Wrekin on Tuesday this week, however, a short-term solution has been put in place to continue services.
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