Administrator seeks buyer for Blythewood Plant Hire
By Murray Pollok27 June 2012
Administrators are talking to potential buyers of Blythewood Plant Hire after its parent company, Doyle Plc, entered administration on 21 June. The rental business will continue to trade on a limited basis while the sale is negotiated.
Deloitte, the administrators, said two of Doyle's subsidiaries, John Doyle Construction and Ibex Interiors, were being closed with the loss of 260 jobs lost.
Blythewood Plant Hire is based in Welwyn Garden City and also has four depots in Peterborough, Stevenage, Warrington and Leyton. Deloitte said that around 45% of its business was with sister companies within Doyle plc.
Richard Hawes, joint administrator and partner in Deloitte's Restructuring Services practice, said; "The group has suffered a prolonged period of difficult trading which has resulted in it being unable to meet its financial obligations.
"We are in discussions with several interested parties to sell various parts of the business. We will continue to trade the Blythewood business on a limited basis with a view to securing a sale as a going concern."
Ibex Interiors was a commercial fit-out, refurbishment and residential contractor based in London and Birmingham and with 67 staff. John Doyle Construction was a civil engineering contractor with 139 employees.
Deloitte said that anyone interested in acquiring any of the business or assets of the group should contact Chris Coulton on firstname.lastname@example.org.