Administrator makes a “significant” number of redundancies
Staff at modular contractor Britspace have today been informed they are out of work after frantic negotiations to find a buyer over the weekend failed.
Administrators FRP Adivsory said in a statement it had had to make “significant” redundancies at the Yorkshire-based specialist, which had 200 staff.
Last week administrator David Thornhill said nine firms had met him to discuss acquiring Britspace, following 31 expressions of interest.
But talks over the weekend failed to result in a satisfactory bid for the firm.
David Thornhill said: “While there has been significant interest shown in Britspace Modular Buildings, the joint administrators regret that no sale of the business has been concluded. In view of this, and in view of the uncertainty employees have faced over the last few weeks, we have reluctantly concluded that there is no option but to make a significant number of redundancies with immediate effect.
“A small number of staff will be retained to complete some work in progress, which has been agreed with a major customer. Those employees that are to be retained will be contacted over the next 48 hours with a view to work re-commencing as soon as possible.
“We will ensure all redundancy claims are processed as quickly as possible, and will work closely with the local job centre to provide support and guidance to redundant members of staff.
“We shall continue to focus on the realisation of the company’s assets as a going concern sale has not proved possible.”