Nmcn Building division fails to find buyer as 80 jobs lost

Nmcn Building division fails to find buyer as 80 jobs lost

Phil Puccio

Grant Thornton were appointed administrators of the contractor in Wednesday and have since overseen the sale of the Water, Telecoms and Plant divisions safeguarding more than 1,500 jobs.

The Infrastructure division is also set to be sold within the next few days.

But joint administrator Rob Parker said: “It is, however, with regret, that due to a number of legacy contract issues, the Joint Administrators have not been able to achieve a sale of the Group’s Buildings division, which together with some other central roles in the Group has resulted in the redundancy of 80 people.

“The Grant Thornton team will work with the employees affected to support them through this process”

News of the redundancies came as CEO Lee Marks posted a message to all employees.

He said:  “The past few days, indeed weeks, have been very hard. I joined nmcn at the end of May with a clear set of objectives: put simply, to make the business a success – a company to admire, and a great home for our talented and dedicated workforce, loyal customers and suppliers. To achieve great things and make the company a fun and engaging place to work.

“Alas, despite the very best of efforts of us all, we ran out of time. You learn a lot in adversity and I will never forget the day I had to tell 1800 people to go home, placing them at risk of redundancy. Anyone with an ounce of human compassion knows just how worrying that is for my many colleagues and their dependant families. I feel for all of you and I am only sorry I could not have done more. ‘Gutted’ might be a better phrase.

“When the inevitable seem the only plausible outcome, we kicked into ‘plan B’. A plan to save as many jobs as we could and save the business. We have been working round the clock (literally) to achieve that outcome, and it is fantastic that today we have been able to formally announce that our Water (and specialist companies – Lintott, Fabrications and Asset Security), Telecoms, Plant, transport and accommodation divisions have transferred into the new ownership of Galliford Try and Svella, respectively.

“We are working hard to conclude a remaining deal for one of our other divisions which should transact in the next couple of days.

“Whilst this was not the outcome I had planned, I am immensely pleased that we will have saved the vast majority of jobs and provide continuity for our customers. I would thank our customers for their forbearance and support.

“Sadly, as in all these situations, there are some colleagues who will not be as fortunate and I would ask for sensitivity at this difficult time and I wish them luck in their new pursuits.

“Finally, I would like to thank my leadership team for their support, and the team at Grant Thornton for working with me to achieve this largely positive outcome.

“But most of all, I would like to say a huge thanks to my many and wonderful colleagues at nmcn. We do not all go on together, but I am certain you have a bright and exciting future. It was my pleasure to be your captain and we played in a good team. Sometimes though, we do not win every match. That does not mean we should not give up hope of finishing top. You have the capability to be the best. Work hard, seize these new opportunities and do great things. All the very best and keep in touch.”

 

 

Nmcn Building division fails to find buyer as 80 jobs lost News

Source link

Nmcn Building division fails to find buyer as 80 jobs lost Resources

Construction Management

Leave a Reply

Your email address will not be published.