A Hull-based scaffolding firm has been saved after The Yorkshire Maintenance Co stepped in to secure the future of the business and its 22 employees.
Stratus Scaffolding Ltd had faced a difficult trading period, with cash flow pressures, delayed client payments, tougher supplier demands and limited bank support putting the company at risk of closure.
The Yorkshire Maintenance Co, a Hull-based fit-out and maintenance specialist, has now acquired control of the business from several shareholders.
The move has secured the jobs of the Stratus workforce and brought the company into the wider Yorkshire Maintenance operation.
Stratus is now being led by managing director Liam Brigg from The Yorkshire Maintenance Co’s main offices, factory and yard.
The rescue comes at a difficult time for many subcontractors across construction, where late payments and tighter credit conditions continue to place pressure on smaller specialist firms.
Yorkshire Maintenance said it had made a significant investment to steady the business, including settling outstanding supplier accounts, supporting payroll commitments and providing the financial backing needed to continue trading.
The company has also invested in new vehicles, plant and equipment.
In a statement, the firm said: “We have invested heavily into stabilising and growing the business by settling outstanding supplier accounts, supporting payroll commitments, and providing the team with the financial backing and operational support required to move the business forward with confidence.
“We have also invested in new vehicles, plant and equipment, whilst working closely with the management team to provide not only financial support, but also moral encouragement and long-term strategic direction.”
The rescue keeps Stratus trading and gives Yorkshire Maintenance a stronger foothold in scaffolding services.
