ADMINISTRATORS from FRP Advisory have been recruited to plant and tool rental business Hiremee.
Jason Baker and Geoff Rowley, partners at FRP Advisory, were appointed joint administrators and will continue to trade the business. They made six redundancies immediately from the 20-strong workforce.
Baker (pictured) said: “A downturn in the construction industry has led to fewer businesses needing to hire equipment from Hiremee so, despite an excellent reputation among its customer base, this has led to cash flow difficulties. The decline in liquidity also made it harder for Hiremee to pay back the large amount of debt it had taken on to fund growth.”
Baker said on investigation of all options with Hiremee’s directors that administration was the best route to safeguard the business’ future.
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