All jobs saved as civils firm sold out of administration

An Ilkeston civil engineering firm has been sold out administration, with all jobs being saved.

Richard Pinder and Sean Williams, of Leonard Curtis Business Solution Group (LCBSG), were appointed administrators of Ilkeston-based Whytemount Civils Limited on 4th .

The business – a construction and civil engineering company – was incorporated in 2015.

It had suffered financial difficulties due to a number of factors relating to the COVID-19 pandemic.  This included delays to contracts as a result of the government restrictions, a shortage of materials, increased cost of supplies, and a lack of skilled labour to complete existing works. These all had a detrimental impact.

Also, a significant reduction in ongoing works resulted in a downturn in turnover.

LCBSG director Richard Pinder met with directors in July 2021. Following this meeting, the advisory firm liaised with stakeholders and undertook an accelerated marketing campaign in an attempt to sell the business.

This resulted in 11 expressions of interest and a sale was completed to Rhino Civils, which is a connected party, on 4 August 2021 – the day the administrators were appointed. The sale saved the jobs of the company’s eight employees.

Pinder said: “Unfortunately, market conditions have resulted in Whytemount Civils being unable to continue to operate. However, the team here at LCBSG and our partner advisers have delivered the best possible result under the circumstances.

“The transaction had to be completed in a very short timeframe, which was governed by the lack of working capital within the company. We believe that the pre-pack has maximised asset realisations for creditors and, most importantly, safeguarded the employees’ livelihoods. We’d like to thank the company directors for their cooperation in what was a very distressing time for them.”

Richard Crofts, Managing Director of Rhino Civils , said: “We are pleased to have purchased the trade and assets of Whytemount Civils Limited.

“The transaction had to be undertaken in a short space of time due to the constraints and pressures facing the business. To have been able to save all eight jobs is very pleasing.”

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