BusinessBusiness RecoveryDeloitte appointed to Ennstone plc

Deloitte appointed to Ennstone plc

Immediate sale of operating subsidiaries

On the same day as being appointed adminstrators of Ennstone plc, Deloitte
has announced an immediate sale of the failed builder’s UK and Polish operating
subsidiaries to Breedon Holdings.

The buyer is jointly owned by Barclays Ventures and the former management
team. Deloitte says the deal will preserve more than 1,000 jobs.

Ennstone was hit by the fallout in the residential construction sector
following the credit crunch, joint administrator Matthew Cowlishaw explained.

The group had attempted restructure over the past eight months, and had
explored a number of strategic options. These included raising new equity via
the sale of Ennstone’s businesses in parts.

An application has been made to the London Stock Exchange to cancel
Ennstone’s listing. Its head office at Breedon-on-the-Hill remains open.

Related Articles

Big Four insolvency specialist joins Gibson Hewitt

Business Recovery Big Four insolvency specialist joins Gibson Hewitt

1y Richard Crump, Writer
Due diligence on BHS 'extensive' GT partner tells MPs

Accounting Firms Due diligence on BHS 'extensive' GT partner tells MPs

2y Chris Warmoll, Writer
MPs hear from trio of Big Four firms over BHS advice

Accounting Firms MPs hear from trio of Big Four firms over BHS advice

2y Chris Warmoll, Writer
Buyers found for two Powa companies

Business Recovery Buyers found for two Powa companies

2y Chris Warmoll, Writer
Deloitte announce redundancies at Powa Technologies

Business Recovery Deloitte announce redundancies at Powa Technologies

2y Chris Warmoll, Writer
Taking Stock: Spotting accounting flaws is child’s play

Audit Taking Stock: Spotting accounting flaws is child’s play

2y Taking Stock
Deloitte MG Rover appeal set for new date

Business Recovery Deloitte MG Rover appeal set for new date

3y Chris Warmoll, Writer
Deloitte to oversee rescue deal at Austin Reed

Accounting Firms Deloitte to oversee rescue deal at Austin Reed

3y Richard Crump, Writer