Mon, 24 Jan 2011 | ADMINISTRATION
Troubled equipment hire firm, Hember Plant Hire, has been saved in a pre-pack administration deal secured by joint administrators at Grant Thornton.
All 32 employees are to remain in their posts after administrators Les Ross and Matthew Dunham secured a sale of the business to Hember Ltd, which has several members of the original management team and is backed by new investors.
It is headquartered in Cheshire, Warrington, and has five other bases in the UK, including Southampton and Bridgend.
Les Ross commented: "We are particularly pleased to secure the sale of this business given the difficult market we are currently in."
"To achieve the sale of the business and to preserve all 32 jobs is an excellent outcome from a difficult situation."
The business had suffered in a competitive market in 2010 and had been in discussion with potential investors about its future late last year. Hember Plant Hire recorded pre-tax losses of £85,159 on revenues of £4.4 million for the year to April 30 2009 – its last filed accounts.
Established in 1974, Hember Plant Hire hires out construction and civil engineering machinery and equipment. Projects worked on include oil refineries, power stations, ship and vessel repairs, film and TV productions and events.
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LEASEHOLD
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