Birmingham firm’s largest project has been cancelled
Demolition firm Coleman Group is cutting jobs because of the impact of the covid-19 pandemic on workloads.
The Birmingham-based group is believed to be axing up to 50 roles from its 110-strong business.
It said its largest contract, to start work on Sir Robert McAlpine’s revamp of the Broadmarsh Shopping Centre in Nottingham for troubled operator Intu, has been pulled.
Other projects paused but not cancelled include jobs at Euston station for HS2, the Coventry Point office block deconstruction and work for the National Grid.
The firm, which has been going since the 1960s, said its income could go down by as much as half in future years.
Chief executive Mark Coleman said: “It is devastating that good people will be leaving us as a result of this restructure, but like many other businesses in the UK we have faced the most difficult and challenging trading conditions of our lifetimes.
“We foresee our business as operating more efficiently with an annual revenue of £12m to £15m, compared to the current level of £25m.”
The firm said it was hoping to cut headcount through voluntary redundancies.