Fri, 11 Mar 2011 | ADMINISTRATION
A York-based piling specialist has been placed into the hands of administrators blaming what it called a "massive" downturn in the sector.
Nattrass Construction called in administrators this week, become the latest in a line of pile driving specialists to have fallen victim to falling new construction projects. Andrew MacKenzie of financial services firm Begbies Traynor has been appointed as administrator.
The situation came about despite the company playing crucial roles in some of the country's landmark construction projects, including at the Central London site of the Crossrail Tottenham Court Road development.
Managing director James Nattrass said the down turn had come at a particularly unfortunate time for the company, which had just made a very heavy investment in new plant and machinery. The company specialises in driven steel, sheet and bearing piles operating RTG telescopic leader rigs.
Mr MacKenzie said that he was looking to keep the company trading through all of its current contracts and keep all the staff on board while he carries out a search for the company and its assets. He expressed optimism that a buyer could be found for the business.
The administration comes just a week after Morgan Sindall announced it was to be running down its piling operation, with the loss of 40 jobs, and just two months after Norfolk-based May Gurney closed its piling business, shedding more than 40 positions.
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