Specialist haulier to the ready mix industry appoints administrators
Administrators at corporate recovery and business advisory firm Quantuma have been appointed at a Southampton aggregate recycling and haulage company.
PWT Contracts Ltd, which operated from Freight Yard, Bevois Park, Imperial Road, Southampton, described itself as a specialist haulier to the ready mix industry.
Carl Jackson and Andrew Watling of Quantuma’s Southampton office were appointed administrators on 29 November 2017.
The company was established in November 2014 as a business to operate as a recycler of aggregate, but had run into financial difficulties. The company also operated a small number of cement mixer lorries and a tipper on contract for other parties.
Quantuma was appointed by the secured lender to the company, following the issuing of a winding-up petition against the company.
Carl Jackson said: “The joint administrators are currently assessing the company’s operations and discussing the position with key stakeholders. The company had historically employed a modest number of drivers, and we are currently investigating this issue.”
He added that there was no prospect of continuing to trade the company due to issues arising pre-administration and it would likely be wound up in due course.
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For further information, please contact:
Andy Skinner, Managing Director, ASAP PR – 07990 978257
Marie Wadeson, Head of Marketing,
Quantuma LLP, Vernon House, 23 Sicilian Avenue, London, WC1A 2QS
Tel: 07464 545678
Notes to Editors
Quantuma LLP is a leading corporate recovery and business advisory practice delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton, Bristol, Manchester and Birmingham.