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Debts at collapsed Shropshire plant hire firm Hawk totalled more than £50 million

By James Pugh | Prees | Business | Published:

Collapsed Shropshire plant hire company Hawk had debts of more than £50 million when it fell into administration last month.

The Hawk premises in Prees. Photo: Google StreetView.

Administrators from EY have estimated Hawk Plant, based in Prees Green, near Whitchurch, had a deficit of £52.5 million.

New documents released by EY show how the firm's funders have borne the brunt of the losses.

Wells Fargo is owed £29.4 million, Aurelius Finance £5.9 million, and Business Growth Fund (BGF) £10.6 million. Meanwhile, staff were owed more than £500,000.

Hawk called in EY following a cashflow squeeze, leading to the loss of 80 jobs and putting another 340 under threat.

South-west based Plantforce has agreed to step in and take on more than 100 plant operators and their machines on one of Europe’s largest construction sites.

But the future of the remaining Hawk Plant staff remains unclear.

Meanwhile, hundreds of assets belonging the collapsed firm are to be sold off at auction.

The auction will take place at Hawk Plant's Prees Green site on March 14 and 15.

Euro Auctions has been appointed by joint administrators Sam Woodward, Alex Williams and Hunter Kelly of EY’s restructuring team to dispose of the general construction equipment.

The inventory will include excavators, articulated dump trucks, dozers, rollers, telehandlers, backhoes, mini excavators, and other popular machinery.

James Pugh

By James Pugh
@JamesP_Star

Shropshire Star Business and Farming Editor.

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