38 jobs saved at Bolton-based construction trade firm

All 38 jobs at a Bolton-based construction trade business have been saved after administrators sold the firm in a pre-pack deal to existing management.

Joint administrators Kelly Burton and Lisa Hogg, of Yorkshire insolvency company Wilson Field, were called in by directors of Mercer Group earlier this month (July 7).

The company, operating from Turton House on Wellington Road, reported suffering due to serious underpayments from clients that resulted in VAT and PAYE arrears and problems with HMRC.

Mercer Projects Ltd has now acquired the business for an undisclosed sum, retaining all 38 staff from across the group.

In addition to saving jobs, an estimated payout of redundancy and holiday pay coming to almost £97k was mitigated.

Director Alison Mercer of Mercer Projects Ltd commented: “This has been an uncertain and very difficult period for Mercer Group but advice from the administrators at Wilson Field has made the whole process less stressful.

“Their communication and procedure and working closely with them has meant we have been able to keep all 38 staff.”

She continued: “With our strong reputation within the sector as a multi trade company and with the same staff team, we were confident that the company has a viable future.

“It is very frustrating when events which are outside of your control threaten the very existence of your business and the jobs of a loyal workforce. Working with our advisors and staff, the future of Mercer Projects now looks very positive and we are in a position to offer our customers the same high quality of products and service.”

Wilson Field director and insolvency practitioner Kelly Burton said: “We are pleased that the sale of the company to Mercer Projects has resulted in all 38 jobs being secured and that the business will continue to trade.

“We determined that a pre-packaged sale would be in the best interests of creditors.”

Hull-based Gosschalks Solicitors advised and dealt with legal work. Asset sales were made through Ian Maycock of Manchester firm Charterfields Surveyors.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →