Rail specialist enters administration sidings

A Northants civil engineering firm which specialised in work for Network Rail has fallen into administration.

Lionverge Civils was established in 1984 and working mainly for Network Rail in railway signalling, maintenance and renewals, P-way and civils works, employing over 100 people at its height.

Howeverm a fall-off in work from Network Rail saw Lionverge Civils make a loss of £180,000 last year.

In its latest accounts, the company said: “Significant overheads have been cut and based on enquries received work is expected to increased significantly from January 2016 returning the company to profotability.”

However, in the same document, Lionverge said its pension deficit had increased “significantly” from £1.63m to £2.69m, which will make the jobs of the administrators to sell the company significantly harder.

The Brackmills-based firm ran more than eight welding teams from smaller regional offices providing a 24-hour response service to help maintain the rail infastructure.

Administrators from London-based Moorfields Advisory have taken control of the company.