Enpure enters administration due to credit woes
Water and waste process engineering firm Enpure has gone into administration following a challenging period of trading which has seen the company experience significant creditor pressure.
Mark Hopkins, Matthew Hammond and Steve Ellis of PwC have been appointed joint administrators of Enpure Limited and Enpure Holdings Limited following a request from the directors.
Due to the extensive pressure on working capital on a small number of large projects, the company said that it could not continue to trade as a going concern.
Company operations are on hold pending discussions with customers and contractors, and the administrators have entered into a period of consultation with its 160 employees.
Hammond 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."
Birmingham-based Enpure offers a range of engineering services to the water and waste sectors and has a turnover of £65m.
It initially operated providing solutions to the water industry, and then early in 2000 the company turned its attention to the solid waste market offering process based solutions.
The also has satellite offices in Kent and Northern Ireland with operations on sites across the country.