YPP Groundworks & Civils, incorporated in 2014, won a series of awards and built a solid reputation undertaking groundworks for domestic and commercial customers in the public and private sectors.<\/p>\n
In March 2022 it generated turnover of \u00a35.7m. However, it experienced pressure on its cashflow due to a large contract being impacted by the pandemic alongside rising material prices.<\/p>\n
Mr Wiseglass said there was no prospect of securing new funding for the business.<\/p>\n
He commented: “Following our appointment, a number of expressions of interest were made to acquire the business, but only one acceptable offer was received.<\/p>\n
“The sale represents a better outcome than the alternative of placing the business in liquidation, as it safeguards the jobs of its employees and its existing contracts.”<\/p>\n
\n<\/div>","protected":false},"excerpt":{"rendered":"
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