Partner Article

MJN Colston goes into administration

National building services form MJN Colston Limited has gone into administration.

The firm, which is based in Stockton on Tees employs around 420 staff in their offices in Gateshead, Blackburn, Coventry, Bury St Edmunds, Croydon, Bristol, Bridgend and Exeter.

Despite plans to continue trading in the short term, 148 employees are to be made redundant.

Partners at Deloitte Daniel Butters and Matt Cowlishaw have been appointed joint administrators to the firm.

Mr Butters commented: “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.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .