Duff & Phelps appointed to Burdens
Published: 28 November, 2012
Philip Duffy, Steve Clancy and David Whitehouse of leading global financial advisory and investment banking firm Duff & Phelps were appointed joint administrators to WTB Trading (formerly Burdens) on Friday the 23 November 2012. The company is continuing to operate as a going concern while a buyer is sought.
WTB Trading is the main trading arm of the Burdens Group. In addition to this appointment, the administrators were also appointed over WTB Group on the 27 November 2012.
Philip Duffy of Duff & Phelps, stated: “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 thirteen. We will continue to trade the company as a going concern while 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 and comprehensive range of civil engineering products and services.
The company had a turnover exceeding £250m with over 750 employees based out of 38 branches throughout the UK prior to the sale of 22 branches to Wolseley in October 2012.
Interested parties are asked to contact Duff & Phelps for further information.