Administrator puts Cleveland Bridge up for sale

Administrator puts Cleveland Bridge up for sale

FRP was appointed as administrator today and signalled that it was urgently seeking to find an investor in the failed business to help protect as many jobs as possible. Talks are underway with CBUK’s clients to discuss continued support on live projects and with staff ahead of first redundancies. The business employs 221 staff at its headquarters in Darlington and an engineering site in Newport, South Wales. The business also has 48 contractors in Darlington and around 50 contractors on various sites. Since 2000, CBUK has been part of the Al Rushaid Group – a Saudi Arabian industrial conglomerate. The UK business’ finances were severely impacted by delays to projects in the UK and internationally as a result of the pandemic, and now needs significant further investment. Martyn Pullin, Partner at FRP, said: “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 …
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