Pre-cast concrete specialist Buchan Concrete Solutions has been given a new lease of life after falling into administration last week…
Buchan Concrete Solutions has been offered lifeline after the firm went into administration last week.
Assets have now been bought by founding director of Buchan Concrete Solutions, Rob Brown, through another company he owns, Buchan Concrete Products. The move has saved the jobs of up to 340 workers at the Cheshire-based firm.
Buchan Concrete Products was first set up three years ago under the name Strategic Management Consulting. It was changed to the current name in October, just a few weeks before the concrete business fell into difficulties.
In a statement, the management team said: “The business has experienced challenging trading conditions in the recent months caused by problematic design and build contracts which had a knock on impact on cashflow and on Friday 6 November, Ted Wetton of Gibson Booth was appointed as administrator.”
Buchan Concrete Solutions had previously run up losses of over £800,000 and £500,000 in the past two years, but it was expected to turnover a profit of £37m this year.