Essex oil refinery bankrupt
January 24th 2012 The owner of the Coryton oil refinery in Essex, Petroplus has said it will file for insolvency.
The Coryton refinery employs about 500 staff and 350 contractors. It supplies about 20% of fuel for London and the South East.
There is concern that the bankruptcy could disrupt fuel supplies in the South East.
Steven Pearson and Stephen Oldfield, partners of PwC, were appointed joint administrators.
Steven Pearson said: "Our immediate priority is to continue to operate the Coryton refinery and the Teesside storage business, without disruption while the financial position is clarified and restructuring options are explored.
"Over coming days we intend to commence discussions with a number of parties including customers, employees, the creditors and the Government to secure the future of the Coryton and Teesside sites." More articles from Handling & Storage Solutions: | 
