Mark Hopkins, Matthew Hammond and Steve Ellis of PwC were appointed joint administrators of Enpure Limited and Enpure Holdings Limited on 3 September 2012.
The administrators said that due to the extensive pressure on working capital on a small number of large projects, the company could not continue to trade as a going concern. This culminated in the directors requesting that its funders place the business into administration.
Company operations are on hold pending discussions with customers and contractors, and the administrators have entered into a period of consultation with employees.
In the year ended 31 March 2011, turnover fell 34% from £72.7m to £47.9m. The company made a pre-tax loss of £399,000.
Enpure, which has 160 employees, is a process engineering and project management company providing a range of services from design through to commissioning in the water, waste and energy sectors. Enpure 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 business operates from premises in Birmingham, and has satellite offices in Kent and Northern Ireland with operations on sites across the country.
Matthew Hammond, joint administrator and PwC partner, 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."
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