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Administrators called in at Fruehauf
Page 7
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ONE OF THE UK's best known trailer builders, Crane Fruehauf, has gone into administration with the loss of 345 jobs and the closure of its Dereham factory.
PricewaterhouseCoopers has been appointed administrator of the £37m-turnover company. Joint administrator Stephen Oldfield says: -Unfortunately with insufficient cash to pay February's wage bill we could not continue to trade. Efforts will be made to try and find a buyer for the business, probably in a reduced form."
Rumours have been circulating that Fruehauf was struggling, fuelled by lay-offs either side of Christmas.
"It's a very sad day," says James Dennison at Dennison Trailers. "They made some of the best products in the business." Lawrence David Lawrence David bought 600 chassis from Fruehauf last year. Sales director Chris Curzon warns that other manufacturers could also face difficult times: -First we had Southfields and now Freuhauf. Unless things change it's likely others will follow. It's a sad indictment of the state of this industry, but also inevitable given the very competitive nature of the market."
Associated company Fruehauf Parts and Service is unaffected by the administration.
• See analysis page 28.