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83 jobs lost as Shropshire plant hire firm goes into administration

By Lisa O'Brien | Prees | Business | Published:

More than 80 jobs have been lost after one of the UK’s largest independent plant hire companies, based in Shropshire, entered administration.

The Hawk premises in Prees. Photo: Google StreetView.

Hawk Plant (UK) and five of its subsidiaries are now under the control of administrators Sam Woodward, Alex Williams and Hunter Kelly from EY’s restructuring team.

The group, based in Prees, had is one of the largest independent plant hire companies in the UK, with a turnover of £93.5m in the financial year to the end of December 2017.

It has more than 40 years of experience in the plant hire industry, with its customer base primarily spanning the infrastructure, energy and homebuilding markets.

Joint administrator Sam Woodward said: “The group’s cashflow had been impacted by a number of historical problematic contracts and a delay in the commencement of anticipated projects.

“Coupled with this, the group’s funding structure, with significant hire purchase and finance lease commitments put pressure on the cashflow at a time that asset utilisation was comparatively low.”

On appointment of the administrators, 83 of the group’s 420 employees were made redundant.

A buyer is now being sought for the company.

Lisa O'Brien

By Lisa O'Brien
Senior Reporter - @lisaobrien_Star

Senior reporter based at Shropshire Star's head office in Ketley. Covering the Telford area.

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