Wed, 24 Jun 2015 | ADMINISTRATION
A construction business in the North East is poised to enter administration, according to reports from trade union UCATT.
Members of the union were told that Turney Wylde, a Wallsend-based business, is set to enter administration.
However, given that the last published accounts for the firm, from 2013, show a pre-tax profit of £132,807 and a turnover of £5.7 million, and the business has yet to respond to requests for comment, it is so far unclear what has prompted the rumours of administration.
Dennis Doody, regional secretary for UCATT Northern, spoke to the Journal about the matter: “Our members have been in contact to say that the company is preparing to go into administration but no administrators have yet been appointed. The workforce have been told to continue to work normally.”
He added that the union is working to contact the company and attempt to find out more about the situation and what the administrators' plans for the business will be when they are appointed.
Turney Wylde was established in 1967 as a family company and has a focus on specialist contracting work, including the upgrade of residential properties and construction work for Newcastle University.
View other businesses in administration.
Provides an extensive range of coffee machinery, which is imported from Italy and Spain, and coffee products, which are sourced within the UK. Offers invited.
FREEHOLD
One of the UK's leading end-to-end service providers. Comprehensive export handling, packing and storage services, providing specialist cargo and goods management to a wide variety of international operations and private clients. 40+ years of success...
Food Service Businesses: Fish & Chip Shops. Established, high turnover traditional Fish and Chip and hot food takeaway operating from busy parade location, Bath. Offers invited.
LEASEHOLD
|
24
|
|
Jan
|
Yorkshire engineering firm completes MBO deal | MBO/MBI
A West Yorkshire engineering group has been taken over by th...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
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