Demolition downturn claims another high profile victim.
Hertfordshire-based Rye Demolition has become the latest UK demolition company to call in the administrators amidst increasingly difficult trading conditions within the industry.
The news comes hot on the heels of the demise of demolition peers Squibb Group, McCormack Demolition, Wooldridge Demolition and Blucon, and brings to five the number of UK demolition companies to go under in the space of just four months.
It is understood that the decision does not impact those employed by Rye Plant Hire which was founded in 1995, 11 years before the creation of Rye Demolition. DemolitionNews understands that Rye Plant Hire is working with Rye Demolition clients to see any outstanding projects to completion. It is not known at this time how many jobs might be lost as a result of Rye Demolition’s administration.
In addition to the many high profile demolition projects undertaken by Rye Demolition in recent years, the company had also made huge strides within the environmental sphere; establishing what it described as “The Sustainable Standard”. In keeping with that standard, Rye was among the first UK demolition companies to make the switch to HVO fuel across its extensive equipment fleet.
It is understood that efforts had been made to restructure Rye Demolition. But it was unable to do so in time to to save the company.
Director and founder Simon Barlow is currently the second vice president of the National Federation of Demolition Contractors. But the demise of his demolition company surely calls into question his ability to retain that position, at least in the short term.
