Rye Demolition has gone into administration, having been hit by two winding up orders.
The Aylesbury-based demolition specialist, which has worked with housebuilders such as Barratt Homes, Taylor Wimpey and Berkeley Group, appointed administrators from Voscap today (28 February).
Construction labour agency Lonsite and formwork specialist RMD Kwikform both filed winding up petitions against Rye Demolition at the end of January.
Lonsite director Michael Durkan said: “Lonsite is aware of the news regarding Rye Demolition entering administration.
“As a creditor, we are currently working with the appointed administrators to understand the situation and next steps. Our focus remains on protecting the interests of our company and employees while respecting the process underway.”
Rye Demolition was founded in 2006. The firm recently completed demolition work for Hill Group at a residential development next to St Ann’s hospital in north London.
Holding company Rye Plant Hire, founded in 1994, has not entered administration.
Rye Demolition managing director Simon Barlow is currently second vice president of the National Federation of Demolition Contractors (NFDC) and chair of the National Demolition Training Group (NDTG).
The company reported a £11.1m turnover and £123,000 pre-tax profit in its latest set of unaudited accounts, covering the financial year ending April 2023.
Rye Demolition, Voscap, RMD Kwikform and NDTG were contacted for comment. NFDC declined to comment.
