Wed, 05 Sep 2012 | ADMINISTRATION
Enpure Holdings, a company which designs and installs water and waste treatment plants, has entered administration.
Enpure struggled with "significant" creditor pressure over the course of the past few years, with a 34 per cent drop in turnover recorded in 2011 from £72.7 million to £47.9 million. However, back in 2011, the company's chief executive told Insider Media that the firm was set to bounce back.
Unfortunately, economic and trading conditions have not picked up this year and the company was forced to appoint Mark Hopkins, Matthew Hammond and Steve Ellis of PwC as joint administrators of both Enpure Ltd and Enpure Holdings Ltd.
It has offered process engineering and project management solutions for the water, waste and energy sectors for some years. Back in 2000, the company expanded to include the solid waste market.
The firm is headquartered in Birmingham and employs 160 staff, but there is a high chance that these individuals will now lose their jobs.
Mr Hammond commented: "Our immediate priority is to review the existing financial position, explore available restructuring options and develop an effective strategy for the business, with a view to realising best value for the benefit of creditors.
"We are in discussion with a number of parties who have expressed interest in certain assets and contracts of the business, but would encourage any further interested parties to contact us as a matter of urgency."
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