The protracted demised of Euro Dismantling Services takes another turn.
As we predicted last week, Euro Dismantling Services has officially applied to appoint an administrator.
The notice of intent to appoint an administrator gives EDS temporary protection from any legal action by creditors. The company is not in administration and still under complete control of its directors.
The move comes as angry suppliers chase payment from the firm and employees leave as they face the threat of redundancy.
The industry rumour mill has been working overtime this past few days and speculation is rife that the company may close it’s doors within the next week or so.
This latest news comes as no surprise as the company’s troubles – and those of its parent company, Silverdell – have been widely reported. However, it is less than two years since the company was bought for more than £20 million which, at the time, was seen as a bargain.