Insolvency practitioner FRP has been called in to take over Dickinsons Plumbing and Heating after the business was unable to meet its financial obligations due to mounting cost pressure on its cash flow.
Located on the outskirts of Leeds, the company, founded over 20 years ago, worked primarily for volume homebuilders like Bellway and Vistry in the area.
Upon his appointment, FRP sold Dickinsons’ renewable energy division, which provided geothermal installation to housing associations and home builders to SRM Renewables – an installer of land, air, biomass and energy products. solar.
The transaction of part of the business and assets includes the transfer of five employees.
The rest of the company ceased trading.
David Shambrook, Partner at FRP, said: “Companies in the construction industry are feeling the impact of inflation as rising costs affect their profitability and very important cash flow.
“We are pleased to have secured a partial sale from Dickinsons of its renewable energy division to SRM, which will secure a number of jobs.
“Unfortunately, the rest of the business could not be saved despite a commercialization process. We work with staff to help them access assistance through the Severance Compensation Office. »