A United Kingdom construction firm, Warwick Ward (Machinery) Ltd, has made all of its employees redundant and has entered administration.
The leading nationwide supplier of earthmoving machinery and recycling equipment has been operating since 1970 and the current “wider economic challenges” impacting the construction and recycling sectors have caused the company to collapse.
For context, when a company enters administration, it has become insolvent (unable to pay its debts) and enters a formal legal process where an independent, licensed insolvency practitioner (the administrator) takes control of the business.
The company’s…