Llanelli-based WRW Construction goes into administration after coming under ‘significant financial stress’
Family-run Welsh Construction company WRW Construction has gone into administration after coming under ‘significant financial stress’
Along with it’s headquarters at North Dock in Llanelli, the company also has offices in Cardiff and Bristol.
A company spokesman said: “Despite a significant order book of over £60m to be delivered within the upcoming 12 months, a supportive lender, fantastic staff and prospects, regrettably, owing to a series of events the last week, including an unfavourable adjudication outcome, the business was put under significant financial stress.
“The directors have worked tirelessly with their advisors and funders to look for solutions for the business to remain viable.
“Unfortunately, it has been regrettably determined that no viable options remain, and administration is the best course of action to preserve value for stakeholders and creditors. As a result of this, the directors are in the process of placing the company into administration.”
WRW had a number of projects ongoing across the region.
In Carmarthenshire the company was involved in the Pendine attractor project and an affordable homes scheme in Dylan, Llanelli.
Leader of Carmarthenshire Council, Cllr Emlyn Dole, said: “This is unfortunate news which will no doubt impact on local employees and sub-contractors. WRW Construction has worked with us to develop several major schemes over many years, including schools and homes, and we are sorry to hear of its collapse.
“Our immediate focus has been to secure two major development sites currently underway – the Pendine attractor project and an affordable homes scheme in Dylan, Llanelli. We are currently gathering information and providing practical support to assist sub-contractors who are involved in the work at both of these sites.
“As with all major projects, contingency arrangements are in place. As such we are confident that we can resume work to continue the delivery of both of these major projects in the near future, although this will inevitably lead to some delay and extra costs, which will need to assessed. We will provide further updates in due course.”
The council added that it has recently launched a robust Economic Recovery Plan to support local industries in the wake of Covid and Brexit.
It said it recognises that many businesses across a range of sectors may come into difficulty over the next few years and sets out a range of measures to support them.
Cllr Dole added: “Whilst we understand the circumstances of WRW Construction’s collapse are unrelated to these issues we will nevertheless implement these measures to mitigate the impact of this situation.
“We have already mobilised business support officers from our economic development team to provide advice and information to those affected. We will also accelerate a range of employment opportunities within the authority that may provide suitable alternative employment for people with transferrable skills, and will work with our partners to identify and promote other relevant training and job opportunities.
“This is a sad situation for all those involved, but we will do everything we can to support all those affected.”
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