The administrator for heavy vehicle rental business Gradewell Plant & Haulage confirmed that the business had closed down and all staff made redundant after more than 20 years of trading.
The family-run company supplied operated and self-drive construction equipment to civil, rail and demolition clients across the UK, Ireland and the Netherlands.
It ran a range of spec plant up to 70 tonnes, along with attachments tailored to customer needs.
BTG Begbies Traynor said Gradewell was placed into administration following an application to court on 3 June with partners Amie Johnson and Costa Pedhiou being appointed as joint administrators.
It added that the firm, which was founded in 2005, had experienced financial difficulties recently.
Johnson said: “The administrators have explored all avenues to rescue the company, including marketing of the business and its assets to prospective purchasers to preserve the continuity of the business and employees.
“Unfortunately, no prospective buyers came forward, and the administrators have started a wind down of the business including making all employees redundant.
“As part of the administration process, we will continue to carry out our statutory duties as administrators which include a sale of the company’s remaining assets to maximise the returns for creditors of the company.”
