Wordsworth Holdings in Administration

[IBH]

Wordsworth Holdings, the parent company of Barford Site Dumpers, has gone into administration. The company called in administrators Deloitte when it became clear the lack of orders across its three businesses made the position unsustainable.

Barford's managing director Niall Wordsworth said orders for site dumpers had dropped 85% from a high in 2007 but remained at a sustainable level for the reduced workforce. However, orders at the Fruehauf trailer division almost dried up in February and despite a reasonable orderbook for the division making prison doors, the business became unsustainable.

"Our business is spread over several sectors but they all fell at the same time," said Wordsworth, "and if there is no market, there is no market." He blames the lack of orders on the uncertainty surrounding the forthcoming election and cuts in public spending that will follow.

Wordsworth Holdings employed 570 people at the height of the boom but this had been reduced to 250 as the recession took hold. Wordsworth said the administrators were optimistic about selling the business as a going concern but it was too early to say with any certainty
Source: http://www.sed365.com/earthmoving/barfo ... istration/
also
http://www.granthamjournal.co.uk/news/l ... n_1_362490

[XS650]

Sad news , hope someone buys it as a going concern , I think they still support and rebuild their old machines as well.

[IBH]

It seems Wordsworth Holdings are a victim of circumstance, unless someone buys the group as a going concern I can see the administrators breaking up the group and selling off each indvididual division.
If its not too much of a distraction in the current climate for JCB, the Bardford site dumpers would be a good fit with JCB's existing product range IMHO.

[IBH]

Grantham firm Wordsworth Holdings is sold

Published on Tue May 11 12:11:03 BST 2010


WORDSWORTH Holdings has been sold, securing 65 jobs.


Administrators for Deloitte have announced the majority of the Grantham business, based in Houghton Road, was sold to Bowden Investment Group on Friday.

Stanhay Webb, a seed drill manufacturer and one of the firm’s subsidiary companies, was sold several weeks ago to Niall Wordsworth and John Evans, former directors of the holdings company.

Talking about the sale to Bowden, Chris Farrington, joint administrator and partner at Deloitte, said: “We are pleased to have been able to complete this deal, securing dozens of jobs and ensuring that production will continue at the site in Grantham, which has been in continuous use for generations.”

Duncan Wordsworth was chairman of Wordsworth Holdings when the firm went into administration on March 11, leaving 225 employees fearing for their jobs.

A number of workers were later made redundant or laid off without pay.

Mr Wordsworth blamed the recession and the “uncertainty surrounding the forthcoming election” for the firm’s failure.

Mr Farrington, Dominic Wong and David Langton were appointed joint administrators to Wordsworth Holdings plc and its subsidiary companies.
Source: http://www.granthamjournal.co.uk/news/grantham_firm_wordsworth_holdings_is_sold_1_631150

Also
Bowdon buys Barford and Fruehauf tippers from administrator



Altrincham-based mini-conglomerate Bowdon Investment Group has bought five businesses, including the the Barford Site Dumpers and Fruehauf tipper trailers businesses, from the administrators of Wordsworth Holdings.

The group, headed by Saul Loggenberg, did not say how much it had paid but said the deal would increase Bowdon's turnover by more than £30m to £120m.

He said the deal was part of the group's strategy to invest in British manufacturing and benefit from an export-led recovery.

Fruehauf has sales of around £12m and Barford Site Dumpers, which makes dumper trucks of up to 10 tonnes capacity, has a turnover of £16m.

Bowdon is also buying Huffey Group, which designs and manufactures doors and windows for HM Prison Service; manufacturing staff supplier Euroforce and WH Rentals, which hires out tipper trucks.

Wordsworth Holdings, which is based in Grantham and employed 25 people, went into administration in March after it was hit by a big drop in demand.

Barford, a famous name in UK construction equipment, dates back to 1937 when the Aveling-Barford company was formed. Its range of site dumpers goes up to 10 t.

Chris Farrington, a joint administrator and partner at Deloitte, said: "The Fruehauf and Barford Site Dumpers businesses have particularly strong market positions and a reputation for innovative products. They have historically been profitable but, in the current economic environment, have been faced with a significant reduction in demand, particularly Barfords. However, they are both well positioned to benefit from improved market conditions."

Bowdon has also bought Macclesfield-based website designer Radius Design and Marketing from the administrator.

Source: http://webcache.googleusercontent.com/search?q=cache:qQJeFNI6N2QJ:www.crainsmanchesterbusiness.co.uk/article/20100511/FREE/100519972+wordsworth+holdings&cd=41&hl=en&ct=clnk&gl=uk

[XS650]

Good to hear they're continuing production, believe the previous Barford company had quite a busy sideline in rebuilding AB graders and dumptrucks ,as well as producing new dumpers , lets hope it's a success.