Partner Article

Part of MJN Colston sold to Integral Holdings

Following news that MJN Colston is set to go into administration, the joint administrators have announced that part of the business is set to be sold to Integral Holdings UK Limited.

This move will now save the jobs of 47 employees in Bristol and Bury St Edmunds. However, the inability to find a buyer for the rest of the business has resulted in the closure of offices in Gateshead, Blackburn, Coventry, Exeter, Bridgend, Croydon and Thornaby.

Commenting on the move, Daniel Butters, joint administrator and partner in Deloitte’s restructuring services team, said: “We are pleased to announce the sale of part of MJN Colston to Integral Holdings UK Limited.

“Regrettably, it has not been possible to find a buyer for all of the MJN Colston business and therefore it was necessary to make a total of 241 employees redundant across the business. Employees in this position were paid up until the last day of employment.”

The Leeds office of Addleshaw Goddard advised the Administrators on the sale.

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