WLP Restructuring Partners, Alan Walker and Glenn Livingstone, have been appointed as Voluntary Administrators (Administrators) of plumbing and electrical contracting business, Plumbfirst Group and its related entities (the Group), as of 13 April 2023.

The appointment was made by the Group’s Directors, and relates to six entities, including Bblautofirst Pty Ltd, Comfyfirst Pty Ltd, Elecfirst Pty Ltd, Firstaction Group Pty Ltd, Plumbfirst Pty Ltd, and Plumbfirst Elecfirst Comfyfirst NSW Pty Ltd.

The Administrators are now seeking urgent expressions of interest from suitable parties to recapitalise or purchase the Group and its assets, or both. While that process advances, the Administrators will continue trading the Group with no interruption to ordinary operations expected at this stage.

Commenting on the appointment, WLP Restructuring Partner, Alan Walker, said, “The decision to appoint Administrators was made by the Group’s directors after rising materials costs adversely impacted its financial performance.”

“The Group comprises one of the largest plumbing and electrical contracting operations across Southeast Australia with a well-established 170 strong workforce and customer base. We are confident that a process to sell or recapitalise the Group can move ahead quickly with the objective to maximise recoveries for creditors and minimise disruption for staff and customers.”

“We are already working closely with management, employees and other stakeholders to do everything we can to continue to trade the Group on a business-as-usual basis while we seek viable options to secure its future.”

The first statutory meeting of creditors will be held on Monday 24 April 2023.