Farming News - Enpure a leading AD supplier goes into administration
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Enpure a leading AD supplier goes into administration
Enpure one of the UK's largest manufacturers of AD equipment has gone into administration.
Joint administrators from PricewaterhouseCoopers (PwC) were appointed to the Birmingham-based company following a “challenging period of trading in 2012” which saw Enpure experience significant creditor pressure.
“Due to the extensive pressure on working capital on a small number of large projects, the company could not continue to trade as a going concern.
“This culminated in the directors requesting that its funders place the business into administration. Company operations are on hold pending discussions with customers and contractors, and the administrators have entered into a period of consultation with employees.”
Matthew Hammond, joint administrator and PwC partner, said: “Our immediate priority is to review the existing financial position, explore available restructuring options and develop an effective strategy for the business, with a view to realising best value for the benefit of creditors.
“We are in discussion with a number of parties who have expressed interest in certain assets and contracts of the business, but would encourage any further interested parties to contact us as a matter of urgency.”