Jobs secure at McMullen Facades following adminstration
JOBS are secure at a well-known Co Down construction firm McMullen Facades following the appointment of administrators.
The company, which has its main office in Moira, along with a factory in Portadown and offices in Winchester, England, employs 270 people.
Peter Allen and Richard Hawes of Deloitte were appointed joint administrators over McMullen Facades on Monday and it has been confirmed no redundancies have arisen.
“McMullen Facades Limited is a profitable business that unfortunately has been affected by cash flow issues in the wider Lakesmere group. McMullen therefore has continued to trade outside of insolvency while a buyer was sought. The business will continue to trade while we seek to sell it as a going concern and there are ongoing discussions with a number of interested parties," Mr Allen said.
Lakesmere has experienced financial challenges, arising from a number of unprofitable contracts. This has resulted in Lakesmere Group Limited, its parent company Graceful Holdings Limited and its subsidiary Lakesmere Limited being placed into administration.