Time is running out for IT group
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• The LT Group plus its Enderby Transport and EL Distribution businesses have gone under, overwhelmed by heavy overheads and reduced levels of business.
Price Waterhouse was called in at the end of last week to act as administrative receiver but it has little or no time to sell the group as a going concern. All of the 42 vehicles run by LT are owned by hire purchase companies — and they want them returned.
"LT's portable cabin removal business held up well but the other parts — the bulk haulage and vehicle rental — were suffering," says joint administrative receiver David Blenkarn. "We want to make a sale but are very short of time. Things could be wound up as soon as this coming weekend."
Some 40 employees could lose their jobs if the £2.8 million-plus turnover group cannot be saved.