Bridge builder Cleveland Bridge UK, which for the last 144 years has built bridges for railways from the UK to Africa, has been placed into administration.
The company, which is based in Darlington, employs over 200 people directly as well as a number of contractors and is said to have a good forward order book. However, delays to projects during the COVID-19 pandemic have caused financial problems and now a buyer is urgently being sought.
Martyn Pullin, a partner at FRP Advisory, which has been appointed to administer the business, explained: “Cleveland Bridge UK has been a flagbearer for cutting edge British engineering for more than a century.
“But no business is immune to the far-reaching impact of the pandemic, which has delayed major infrastructure projects around the world and put significant financial pressure on the teams behind them.
“Cleveland Bridge UK is a business with a proud history and a formidable track record of engineering excellence. It also has great potential and should attract interest from the steel fabricants sector and other firms looking to break into the specialist bridge-building market.
“Unfortunately, without significant investment, the business will be wound up. That is why we’re calling on any interested parties to come forward.
“Regrettably, the business is unable to continue operating at its current capacity. We are urgently reviewing contracted work in progress to determine the shape of the business going forward.”