Administrator is in “advanced negotiations” to sell parts of the business
Administrator Deloitte has confirmed it is in “advanced negotiations” with contractors bidding for parts of stricken M&E firm MJN Colston.
The £100m-turnover specialist fell into administration last Thursday, resulting in 148 job losses. The century-old firm employed 400 staff before the administration.
Deloitte said in a statement that it intended to conclude the sale of parts of the MJN Colston business “by the end of the week”.
MJN Colston is one of the construction industry’s oldest specialist contractors, founded in 1890.
The company has nine offices around the UK and has worked on a number of prestigious projects, including Arsenal’s Emirates Stadium. Its headquarters is in Thornaby near Middlesbrough.