Employee-owned plant dealer Warwick Ward has fallen into administration after 55 years in business with 89 jobs axed.

Interpath restructuring partners James Lumb and James Clark were appointed joint administrators to Warwick Ward (Machinery) after attempts to refinance, sell or secure new investment failed.

Headquartered in Barnsley, Warwick Ward grew from a family-run firm founded in 1970 into a major stockist and supplier of new and used earthmoving and waste recycling machinery, also operating out of Bromsgrove in the Midlands and Harlow in the south.

It represented a wide spread of manufacturers including Case, Terex, Sunward, Faresin and Ausa.

Interpath joint administrator James Lumb said: “With strong economic headwinds continuing to impact the construction and groundworks market, specialist plant hire operators up and down the country are coming under increased financial pressure.

“It’s a tremendous shame that these challenges have proven to be so devastating for Warwick Ward, which had a long and proud heritage across South Yorkshire and beyond.”

He added: “Our immediate priority will be to support all those workers impacted by redundancy, while we also explore options for the Company’s assets.”

The business transitioned to employee ownership in June 2023 when founders Ashley and Matt Ward sold to an Employee Ownership Trust. But trading conditions deteriorated rapidly.

In its first full year under the EOT, turnover slipped from £51m to £45m with operating profit falling from £679,000 to a loss of £1.3m for the year to 30 September 2024.