03.07.2009

EPL enters administration - updated

We can now confirm that EPL, the UK based aerial lift rental company and one of the longest established powered access companies in Europe has appointed Ian Corfield and Myles Halley of KPMG Restructuring as joint administrators following a court hearing yesterday.

EPL is based in Sandy, Bedfordshire and specialises in vehicle mounted lifts, although it also runs a number of self propelled lifts as well. The company was a subject of a management buy out from its previous owners Laing and has operated in its current format since 2001.

The company, which had revenues of £8.1 million last year, employs a total of 105 members of staff at its head office and across a further seven depots in Bristol, Birmingham, Carlisle, Enfield, Falkirk, Manchester and Winchester. It operates a fleet of 454 machines.

Corfield said: “The company has been suffering due to the current difficult trading conditions which have resulted in problems with cash flow. Despite the best efforts of its directors, they were unable to secure additional funding and have had no option but to place the company into administration.”

“We will now be working to stabilise the business while we review the options for the future of the company, which will include restructuring its debt and/or trying to sell the business as a going concern.”
Any interested parties should contact Ian Corfield on: [email protected].

Or call Helen Sieman on UK telephone number 020 7694 3964