Wed, 30 Jan 2013 | ADMINISTRATION
Construction business Hewlett looks set to enter administration after workers were told yesterday (Tuesday, 29 January) to stop work.
Administrators from BDO confirmed that the group – which includes Hewlett Civil Engineering Ltd., Hewlett Plant Hire Ltd., Portford Homes Ltd. and Hewlett Rail Ltd. - has entered administration.
Paul Bates, restructuring partner with BDO, commented: "The companies encountered financial difficulties as a result of the challenging economic climate over the past few years.
"Turnover has fallen from about £62m in 2009 to about £42m in 2012. Regrettably, this has meant that the companies are unable to continue to trade in their current form."
He added that the group is conducting an appraisal of the companies to ascertain whether or not they can be traded during the administration process and if a sale is an option for some or all of the businesses in the future.
Hewlett's focus is on civil engineering projects and it tends to work on both commercial projects and large construction jobs. Its head office is in Leeds, but there are two further regional offices, two training sites and third party contractor sites all being affected by the administration.
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