News

Casey Withdraws From Plant Sales

P&C Casey Limited has decided to withdraw from the plant sales market and concentrate on hire and service through its subsidiary, P Casey (Plant Hire) Limited.

Sarah Bell & Philip Duffy, Partners at MCR were appointed Joint Administrators of P Casey (Plant Sales) Limited (“the Company”) on 14th December 2011.

The business ceased trading on 30 November 2011. The appointment was part of a restructuring within the P&C Casey Group and all other businesses in the Group.

Sister group, “The Casey Group Limited and subsidiaries”, is unaffected by the appointment of Administrators over the Company and remains profitable.

Chris Casey, Managing Director of the P&C Casey group comments: “Plant Sales has been loss making over a number of years and the Group has funded these losses whilst endeavouring to turn the business around. Due to the much publicised downturn in the economy, P&C Casey Limited could no longer continue to support this part of the business.”

Sarah Bell, Partner at MCR comments: “Plant Sales had a number of loss making contracts that the Group were no longer prepared to fund. It is our understanding that the Company has no trade creditors as P&C Casey Limited undertook to pay all creditors once the decision was made to cease trading on 30 November 2011 and other Group companies were prepared to service client needs. The Administrators will be marketing the business and assets for sale”