Northern Ireland’s McGrath Group saved 117 jobs through internal re-redeployment
Northern Irish metalwork company McGrath Group has been forced to call in administrators to its engineering arm, McGrath Bros (Engineering).
As a result of the administration and of further streamlining across the group, a total of 15 redundancies have been announced.
However, the Lisburn-based firm said internal re-redeployment had enabled it to preserve the jobs of the remaining 117 group employees, and that it was optimistic about its prospects.
Brian McGrath, the group’s joint managing director, said: “Like many in the construction industry we have seen a reduction in both private and public sector activity since 2007.
“The group reduced employment and other costs during 2009 and 2010, but it recently became clear that we required a re-structuring in order to maintain the group’s viability.
“We regret having to make any redundancies but we’re relieved that we are able to preserve the majority of jobs. Our current order book is strong and we are working on a number of significant contracts in the UK rail sector. We are confident there is a pipeline of contracts obtainable over the next three or four years from the £7bn Crossrail project to build a major new railway link under central London.”
Over 25 years the McGrath Group has been a market leader in architectural metalwork in the UK and Ireland. Its bespoke engineering services, carried out in tandem with architects and main contractors, focus on commercial, retail and the rail sector.
The firm is currently working on a number of major rail-related projects in central London and a £600m mixed-use scheme in Birmingham.
The administrator of McGrath Bros (Engineering) is licensed insolvency practitioner David McClean of McClean & Co.
He said: “The group has worked closely with us as business recovery specialists to ensure it can preserve the core of its business and as much of the employment as possible. While the administration will have an impact, I am pleased that we have been able to achieve a satisfactory outcome for the group.”