Rye Demolition has become the latest casualty of 2024, with the Aylesbury-based demolition specialists falling into administration
Rye Demolition has joined the likes of DB Group, fellow demolition firm Woolridge Contractors, and BCM and Scaffteq West of the Safe Rise Scaffolding Group in falling into administration.
The demolition industry, in particular, has been hit hard, with other prominent names such as the Squibb Group, McCormack Demolition and Blucon all calling in the administrators in the last four months.
A big name in demolition comes crashing down
The company was established in 2006 by incumbent managing director Simon Barlow, who is also the second vice president of the National Federation of Demolition Contractors.
Rye was a common fixture of demolition works across London and South East England, along with Rye Plant Hire, which precedes Rye Demolition. According to DemolitionNews, Rye Plant Hire is working with Rye Demolition clients to see any outstanding projects to completion, and the filing for administration should not affect those employed by Rye Plant Hire.
Rye Demolition is now under administrators from Voscap Ltd
The most recent accounts for the company to April 30 2023 report a turnover of £11.1m, with a pre-tax profit of £123, 413.
Rye carried out several seven-figure projects, such as bringing down St Ann’s Hospital in Tottenham, the Kodak factory in Harrow and the Nestle Factory in Hayes.
The company was also notable for being one of the first UK demolition companies to make the switch to HVO fuel across its equipment fleet as part of what it called “The Sustainable Standard”.
