Richard Goodall and Anthony Collier of specialist business advisory firm FRP were appointed Joint Administrators of NWP Electrical & Mechanical Ltd on 8th July 2022.
NWP Electrical & Mechanical Ltd, based in Saint Asaph, North Wales, provides electrical and mechanical services for the design and build, commercial and residential industries.
Due to the ongoing economic conditions impacting the sector, significant pressure was placed on cashflow and profitability of the Company, leading to its insolvency.
The Company ceased to trade upon the appointment of the Joint Administrators and regrettably, all 59 of the business’ staff were made redundant.
Richard Goodall, partner at FRP and Joint Administrator of NWP Electrical & Mechanical Ltd, said: “Due to the ongoing financial challenges and inflationary pressures impacting the business, NWP Electrical & Mechanical Ltd has become insolvent and is no longer trading.
“Our focus is now on managing efficient communication with creditors as part of our statutory duties while working with staff at the Company to help them access redundancy support.”
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