Plant hire giant Hawk falls into administration

Grant Prior 3 months ago
Share

Construction equipment hirer Hawk Plant has fallen into administration.

The Enquirer understands the news was broken to staff on Monday morning as plant manufacturers started to arrive at the firm’s depots to collect leased kit.

Administrators from EY are now in charge of the company and have made 83 of the 420 staff redundant.

The administration covers Hawk Plant (UK) Limited and its subsidiaries Hawk Plant Hire Limited, Hawk Hire Limited, Safety and Training Limited, Hawk Plant Limited, and Hawk Plant Sales Limited.

It is understood Hawk ran into debt problems after being hit for around £800,000 from the collapse of Carillion and a problem contract in Sierra Leone.

Hawk has a fleet of 2,000 machines and has been supplying kit to sites across the country for more than 40 years.

Latest accounts for Hawk Plant (UK) Limited show the firm made a pre-tax profit of £515,000 from a turnover of £93.4m during the year to December 31 2017.

During the same period, Hawk Plant Hire Limited made a pre-tax loss of £733,995 on a turnover of £75.4m.

Sam Woodward, Joint Administrator, said: “The Group’s cashflow had been impacted by a number of historical problematic contracts and a delay in the commencement of anticipated projects.

“Coupled with this, the group’s funding structure, with significant hire purchase and finance lease commitments put pressure on the cashflow at a time that asset utilisation was comparatively low”.

Subsidiary Enverity Ltd, a ground survey and sight inspection business based in Newark, remains solvent and unaffected by the administration.

Woodward added: “We will now begin the process of seeking to find a suitable buyer for Hawk, to ensure the best possible outcome for all of the Group’s stakeholders.

“In the meantime, we will seek to minimise the impact on the customer base by keeping assets on hire and maintaining service levels.”

Latest news

Interserve finance chief quits

Mark Whiteling exits weeks after banks take control in pre-pack deal
7 hours ago

Green light for reworked Paddington Cucumber

Reuben Brothers gain revised planning for landmark west London tower
5 hours ago

Winners unveiled for £400m Dounreay decommissioning

28 firms named on major nuclear framework: Full list of winners
14 hours ago

Guinness plans largest ever homes scheme in Leeds

Plan for over 900 homes at Leeds South Bank site
14 hours ago

Opinion: Lack of talent at the top is hurting construction

Time to promote a new generation of younger directors to end the "over-optimism" bonus culture
14 hours ago

Ex-Crossrail chief Wolstenholme wanted more bonus cash

Project chief challenged decision to deny him extra pay for performance
1 day ago

Waiting over for £340m Belgravia council estate rebuild

Westminster council seeks firm for Ebury Bridge Estate rebuild
14 hours ago

Morrison takes on refurb job from failed contractor

Morrison to complete renovation scheme after original builder went bust
1 day ago

Call-up for £110m Southsea seafront defence job

Portsmouth city council aims to shortlist three firms to bid eight year project
14 hours ago

Eight placed on £200m London Universities framework

Graham, Speller, 8build and Walter Lilly among preferred list
1 day ago

Boost your online presence – join the Enquirer Directory

New site for suppliers and buyers showcases products, services and latest stories
12 months ago

Giant ‘concreteberg’ blocks sewers in Islington

Work starts to chisel out 105 tonne blockage as hunt starts for culprits
2 days ago

Lendlease chief jumps for Crown Estate top job

Dan Labbad to take Crown Estate chief executive role at start of 2020
2 days ago

Race starts for £2bn YORcivil framework places

Eight firms to share £2bn pipeline over four years
2 days ago

Green light for £150m Bolton Church Wharf regen plan

Muse approved to start demolition and work up details of scheme
2 days ago

Wills Bros wins £31.5m Maybole Bypass in Scotland

5.2km bypass on A77 in south west Scotland will employ 165 workers at peak
2 days ago

VINCI starts work on new £100m Birmingham hospital

Contractor gets underway on three-year build programme
6 days ago

Pay row set to escalate on HS2 enabling works site

Dispute set to intensify over rates paid by labour supplier
7 days ago

Four civils firms scoop £2.6bn flood and coastal framework

Kier breaks into Environment Agency preferred contractors list
7 days ago

Costain making engineers redundant at tech centre

Contractor cutting jobs at technology division it bought for £17m in 2016
7 days ago

Dozen firms win £500m City of London deal

Morgan Sindall, Osborne and Speller Metcalfe among winners
7 days ago

New £3m fund to improve construction procurement

Companies invited to bid for cash grants in CITB-led efficiency drive
7 days ago

Green light for vast Nottingham Boots Island scheme

Developer Conygar plans to build a 2m sq ft mixed-use scheme
7 days ago

Goldman Sachs bankrolls Brum’s tallest resi project

Builder Sisk can now start work on 42-storey Broad Street skyscraper
7 days ago

SME contractors agree 2.75% pay deal for workers

Annual pay increase will see hourly craft rates rise to £12.79
1 week ago

Lakehouse subbie goes after Sureserve for cash

Specialist wins adjudication award after contractor goes bust
1 week ago

Firms on alert for M4 Newport £185m enabling works

Bidders day planned ahead of July invitation to tender
1 week ago

Robertson hires Laing O’Rourke infrastructure ops director

Bryan Glass will head Robertson's civil engineering business in Scotland
1 week ago

Wates starts £24m Shoreham flood defence

Enabling works to pave way for 540-home Free Wharf scheme
1 week ago

£400m Eastern Highways Framework up for renewal

Essex County Council to invite bids for third generation framework in June
1 week ago

Contractor services