129 Jobs Saved Through Construction Firm Sale

129 jobs are thought to have been saved following the sale of Moira construction firm McMullen Architectural Systems Limited.

Administrators from PwC’s Business Recovery Services department were appointed to the firm on 5 December at the request of the directors.

Joint Administrators Stephen Cave and Paul Rooney have now confirmed the sale of the business to a subsidiary of Lakesmere Limited, safeguarding all 129 jobs in place at the time of appointment.

Commenting on the appointment, Joint Administrator Stephen Cave said: "Falling demand, increased pressure on margins, investments in foreign markets and the general downturn in construction have collectively led to the directors’ decision to appoint Administrators earlier today.

"Unfortunately the appointment will come as another set back to the already embattled construction supply chain both in Northern Ireland and further afield.

"However despite this, I am pleased to announce we have been able to sell the trade and assets of the business, which will seek to secure 129 jobs and the continuation of the McMullen business under new ownership."

McMullen is based in Moira and operates in aluminium curtain wall and window systems for medium and large scale building projects across the UK.

The company has been operating for over 40 years and has been involved in a number of Belfast developments such as the Boat and the Obel.

Lakesmere Limited operates in the roofing and cladding sector of the construction industry and is based in Winchester, England.

PwC said some temporary disruption to business activity and work in progress might occur at McMullen as projects are transferred to the new owners, but that this was likely to be temporary.

(IT)