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.
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