Fri, 01 Jul 2011 | BUSINESS SALE
Administrators are looking to sell on the remaining plant fleet of the equipment hirer, Fox Bros, after they collapsed into administration this week.
The company, which is based in Thornton-Cleveleys, near Blackpool, ran into trouble after setting up a civil engineering contracting arm of the business a year ago. The administration has brought about the demise of a company which has successfully operated in the North West of England since 1932.
Fox Bros Civils was a promising venture to begin with, according to one former employee, but soon became a burden. "Fox Civils grew very quickly carrying out groundworks on housing sites," he explained to The Construction Enquirer. "We had to fund a lot of work in progress and struggled to get paid on time, putting the group under a lot of cash flow pressure."
The company operated out of depots in Preston and Blackburn, but both of those centres have been gradually downsized over recent months, as the financial struggles took hold. Administrators from the Manchester office of Begbies Traynor are handling the administration, and are looking to sell off the business's remaining assets.
Note: This article is subject to a clarification.
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