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Casey folds plant sales division

21 Dec 11 Contracting group P&C Casey has put its plant sales division into administration after several years of losses.

Casey is quitting sales but staying in the hire business
Casey is quitting sales but staying in the hire business

The Merlo and New Holland dealership is being offered for sale as a going concern.

P Casey (Plant Sales) Ltd ceased trading on 30 November 2011. Sarah Bell & Philip Duffy, partners at MCR, were appointed joint administrators on 14 December.  The appointment was part of a restructuring within the P&C Casey group.

All other parts of the company, including P Casey (Plant Hire) Ltd, are unaffected and remain profitable, the company said.

P&C Casey managing director Chris Casey said: “Plant Sales has been loss making over a number of years and the group has funded these losses whilst endeavouring to turn the business around. Due to the much publicised downturn in the economy, P&C Casey Limited could no longer continue to support this part of the business.”

MCR partner Sarah Bell said: “Plant Sales had a number of loss making contracts that the group were no longer prepared to fund.  It is our understanding that the Company has few trade creditors.  Other group companies are in a position to fulfil clients’ service needs. The administrators will be marketing the business and assets for sale.”

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