Utilities supplier Burdens goes into administration
Published: 28 November 2012
Just weeks after
selling part of its business to builders merchant Wolseley, the utility and civil engineering products supplier Burdens has gone into administration.
Financial advisory firm Duff & Phelps said in a statement that it had been appointed as administrators to WTB Trading, the main trading arm of the Burdens Group, on Friday. Yesterday, it was also appointed over WTB Group.
As reported on diyweek.net on November 5, Wolseley bought 22 of Burdens' branches in a £30m deal that will see them run as a wholly-owned subsidiary of the merchant. And over the last few days, a further three outlets have been sold, two of them to builders merchant Bradfords.
Burdens is now continuing to trade while a buyer is sought for the business.
Philip Duffy of Duff & Phelps said: "Due to the established name of Burdens and quality of the business we have already been able to sell three of the branches within the group and have had interest expressed in the remaining 13.
"We will continue to trade the company as a going concern whilst we continue discussions with those parties interested in acquiring some or all of the remaining branches."
Burdens is a well-known name in the utilities, infrastructure and construction sectors, supplying a diverse range of civil engineering products and services.
The company had a turnover exceeding £250m, with over 750 employees based at its 38 branches, before the sale of over half of them to Wolseley.