Doyle Group folds
Published: 25 June, 2012
WELWYN GARDEN CITY: Doyle Plc, which includes John Doyle Construction and Ibex Interiors is in administration.
Deloitte said in a statement on Friday that partners Richard Hawes, Dominic Wong and Chris Farrington have been appointed joint administrators to Doyle Plc, including its trading subsidiaries John Doyle Construction, Blythewood Plant and Ibex Interiors.
Deloitte said that "in the absence of any funding, there was no alternative but to close the Ibex Interiors and John Doyle Construction businesses". However, the administrators said the Blythewood plant hire business would continue to trade, with a view to sale.
Richard Hawes, joint administrator and partner in Deloitte's restructuring services practice, said: "The group has suffered a prolonged period of difficult trading which has resulted in it being unable to meet its financial obligations.
"We are in discussions with several interested parties to sell various parts of the business. We will continue to trade the Blythewood business on a limited basis with a view to securing a sale as a going concern."