The plant firm started in 1988 and the company employs 18 staff. It operates a fleet of diggers and also runs a commercial vehicle repairers. David Kirk of Kirk Hills Insolvency in Barnstaple has been appointed administrator.
Kirk said that, despite the directors’ best efforts and due to the amount of money owed to them by Rok, they had no other option but to seek expert insolvency advice.
Since November 18, Kirk has continued to trade the company so that as many contracts as possible are completed for the benefit of creditors, customers and staff.
He said: “Whilst this is not a happy ending at this time of the year, the route of administration is a better outcome than liquidation and does give time for a rescue solution to be sought.”