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Tue October 27 2020

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Bank blamed as Weldon Plant enters administration

3 Sep 10 Northamptonshire construction company Weldon Plant has gone into administration.

Northamptonshire construction company Weldon Plant has gone into administration.

The firm blamed a decision by the Royal Bank of Scotland (RBS) to cut its overdraft from £3.15m to £2.2m.

Chairman Peter Webb said: "This decision has not been taken lightly. We know how many individuals and families will be affected."

A spokesperson for RBS said: "We are making a sustained effort to work with Weldon Plant to address its current issues."

The MP for Corby and East Northamptonshire, Louise Bagshawe, has written to RBS, asking why a state-owned bank was not lending to a "successful business".

Work stopped on three Weldon construction projects, including the Rockingham Triangle stadium in Corby, home of the local football club.

Weldon Plant employs 113 people, whose jobs are now at risk.

The firm has been in business for over 30 years, and specialises in earthworks, highways, structures, demolition, land reclamation, and also has a haulage arm.

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