Moorfields appointed Administrators over rail and signalling engineering company
Simon Thomas and Arron Kendall of leading restructuring and insolvency firm, Moorfields were appointed administrators over Lionverge Civils Limited on 29th April 2016.
The well established company based in Northampton, had been trading for over 32 years and built a solid reputation in the specialised delivery of Railway Signalling, Installation and Maintenance.
Unfortunately the company ran in to difficulties when there was a general downturn in revenue as Network Rail took more work in-house.
Simon Thomas, Joint Administrator said “More and more companies are undertaking aggressive supplier management reviewing contracts and bringing services in-house. Many are looking to reduce contracts so as to negotiate higher discounts with fewer suppliers, unfortunately as a result many businesses will find they are losing contracts where they have previously had recurring work.”
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Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.View all Our News