Shepherd Group confirms review of construction arm, while Building understands
Shepherd Construction has confirmed it has begun a “review” of its business, which could result in redundancies.
In a statement Mark Perkins (pictured), Shepherd Group’s chief executive, said the board was reviewing Shepherd Construction in order to “establish the right scale and platform for future growth and sustainability”, adding the firm “will do everything possible to minimise potential redundancies”.
Last month it emerged Shepherd Group held preliminary talks with Wates about a potential acquisition of the former’s construction business. While the discussions have not resulted in a deal as yet, Building understands from market sources the potential takeover is not yet dead. Shepherd has not commented on the speculation.
Perkins said: “The executive board is currently reviewing the Shepherd Construction business, along with its support service teams with a view to establishing the right scale and platform for future growth and sustainability.
“We must ensure that Shepherd Construction operates as efficiently as possible to meet the demands of today’s market and safeguard the long term future of the company and its workforce. We will do everything possible to minimise potential redundancies and prioritise the welfare of staff affected by the consultation throughout.”