About 160 jobs at a Birmingham engineering firm are at risk after the £65 million turnover group collapsed into insolvency.
PwC has been appointed administrator of Enpure and Enpure Holdings, based at Woodgate Business Park.
The collapse has seen Enpure cease trading and dozens of workers sent home while PwC face a battle against time to attempt to find a buyer for the business.
Enpure, which has 160 employees and a HQ in Birmingham, is a process engineering and project management company providing a range of services from design through to commissioning in the water, waste and energy sectors.
PwC said: “The company has been placed into administration following a challenging period of trading in 2012 which has seen Enpure experience significant creditor pressure.
“Due to the extensive pressure on working capital on a small number of large projects, the company could not continue to trade as a going concern.
“This culminated in the directors requesting that its funders place the business into administration. Company operations are on hold pending discussions with customers and contractors, and the administrators have entered into a period of consultation with employees.”
Matthew Hammond, joint administrator and PwC partner, said: “Our immediate priority is to review the existing financial position, explore available restructuring options and develop an effective strategy for the business, with a view to realising best value for the benefit of creditors.
“We are in discussion with a number of parties who have expressed interest in certain assets and contracts of the business, but would encourage any further interested parties to contact us as a matter of urgency.”
No redundancies have yet been made by the administrators.