PwC appointed administrators to Williams Industrial Services
Stephen Cave and Toby Underwood, partners at PwC, have been appointed joint administrators to Williams Industrial Services, a County Antrim engineering firm, with the loss of 145 jobs
9 Feb 2018
Mallusk-based Williams Industrial Services was established in 1983 and is one of Ireland's largest providers of environmental engineering solutions, specialising in water-treatment and anaerobic digestion technologies.
The company employed 145 staff and had an annual turnover of around £50m.
The company was placed into administration after it ran out of funds due to a number of contractual disputes.
Tot Technical NI Limited, a wholly owned subsidiary of Williams Industrial Services, employing 15 people and trading from adjacent premises, is set to go into liquidation.
Cave said: ‘The company ran into a number of commercial issues on some of its key contracts in recent months, culminating in contractual disputes which had a significant and adverse impact on trading cashflow.’
Williams Industrial Services chairman John Toner, said: ‘Having explored all possible rescue options, it is with deep regret that the directors have had to take steps to have the company placed into administration.’
Report by Amy Austin