Administrator Deloitte will keep M&E specialist trading while seeking a buyer
Almost 150 staff at MJN Colston have been made redundant, after the £100m-turnover M&E specialist fell into administration this morning.
Administrator Deloitte confirmed the job losses in a statement this afternoon. MJN Colston will continue to trade while Deloitte seeks a buyer for the stricken firm.
While 148 employees have been made redundant, 272 staff have been kept on.
Daniel Butters, joint administrator and partner at Deloitte, said: “Our appointment follows a strategic review of MJN Colston Limited’s financial position.
“We intend to trade the business in the short-term with a view to selling and novating the contracts to other providers.
“We will continue to work with the company’s suppliers and customers and will seek to find a buyer for the business and assets to minimise disruption.”
MJN Colston did the M&E work on Arsenal Football Club’s Emirates stadium development.