Fri, 23 Dec 2011 | ADMINISTRATION
Administrators are working to sell the substantial plant fleet and assets of groundworks contractors, the Black Horse Group, after they collapsed into administration.
The Wiltshire-based company - which is one of the largest groundworks operations in the south-west of England - called in administrators from the Bristol office of corporate recovery specialists Begbies Traynor earlier this week.
The administrators are believed to be closing the business - with the loss of 220 jobs - but are looking to recover substantial sums from the company's assets.
Joint administrator Simon Haskew said the company had suffered due to the toll that the difficult economic conditions had taken on the construction industry. The directors had been unable to renegotiate financial facilities and, as a result, called in the administrators.
The company was first established in 1985 and had a turnover of £25 million at its peak. It operated from offices in Cricklade, Wiltshire; Wellington, Somerset; and Caldicot, South Wales.
The administrators have said that if they are unable to find a single buyer for the fleet then it will be auctioned off. The fleet is likely to fetch a considerable sum as it had been company policy not to keep any piece of machinery for more than three years.
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