Coalville-based Go Plant, one of the UK's largest suppliers of specialist vehicle hire to local authorities and the private sector, owed £72m to creditors when it fell into administration, according to a report by the TheBusinessDesk.com website.

The private equity-backed firm, which had nine depots across the UK, was sold to Sweeptech Environmental Services, based in Berkshire, in a £2million deal brokered by administrators from Alvarez & Marsal Europe in May.

Among the names in Go Plant's creditors list are private equity backers Endless, which is owed over £50million, Close Brothers Leasing, which is owed over £1.6million, HSBC Equipment Finance, which owed over £4.4million, Lloyds Bank, which is owed over £2.4million and Secure Trust bank which is owed over £3.7milion, says the website.

Around 197 employees were made redundant when Go Plant, based in Bardon Hill, collapsed in May. 

The website says the firm's troubles can be traced back to late 2023 when an employee lost their life after a health and safety incident involving one of the company's vehicles. 

The incident remains the subject of an ongoing investigation by the Health and Safety Executive.

Go Plant then put in place a number of operational safeguards, following advice, which impacted its cost base and operational efficiency.