Building contractor enters administration

Mon, 06 Nov 2017 | ADMINISTRATION

A Winchester-based specialist building contractor has gone into administration at the cost of more than 100 jobs.

Administrators have now been appointed for Lakesmere – a company that provides roofing, cladding, specialist façade and building envelope construction services across the UK.

Out of the 241 workers employed for the firm, 109 have been made redundant. The administration comes after months of financial struggle arising from a number of unprofitable contracts.

Lakesmere Group Ltd is the parent company for Lakesmere Ltd as well as McMullen Facades Ltd and a number of overseas subsidiaries. McMullen and the overseas subsidiaries are not in administration and are continuing to trade solvently.

McMullen is based in Northern Ireland and will not be subject to the UK insolvency process, and no redundancies are being announced there. Altogether, 275 people are employed across these facilities.

The administrators from Deloitte are currently assisting the Lakesmere Group with options around the sale of McMullen as a going concern.

Search businesses in administration
Subscribe to the Business Sale Report


Share this article



Latest Businesses for Sale

National Reprographics & Flexo Plate Manufacturer (Fast Sale)
UK Wide

Opportunity to acquire the Business & Assets of :- A Well Established National Reprographics and Flexo Plate Manufacturer. Expressions of interest are to be made by COB Thursday 17 October 2019. All offers are to be received by Midday Wednesday 23 Oc...

Asking Price: Offers Invited
Turnover: £5,513,440

Electrical Installation & Service Retailer
West Midlands, UK

Service retailer member of Europe's largest buying group. Additional gift shop in the business with additional income streams. Business across 2 units (Retail & Storage, admin & service). Sale and installation and of aerials, satellites and CCTV. Of...

Asking Price: £249,999
Turnover: £530,000

LEASEHOLD


Care Agency
Cumbria, UK Wide

Well established care agency for sale. Situated in a predominantly residential area close to the town centre. Thriving business with ample growth potential. Highly reputed with regular and repeat trade. Offers invited.

Asking Price: £649,950
Turnover: £761,284

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

 
15
 
Oct
 

Tomlinsons Dairies falls into administration | ADMINISTRATION

Wrexham-based dairy firm Tomlinsons Dairies has announced to...

 
14
 
Oct
 

PE firm snaps up independent video game firm | BUSINESS SALE

Private equity firm NorthEdge Capital has successfully acqui...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
11
 
Oct
 

Administrators called in for Links of London | ADMINISTRATION

The most recent company to fall victim to the tough trading ...

 
26
 
Sep
 

Company behind the ‘Boris Bus’ enters administration | ADMINISTRATION

Wrightbus, the manufacturer behind the revived Routemaster a...

 
28
 
Aug
 

Buyer sought for Links of London | BUSINESS SALE

The Folli-Follie Group (FF Group) has announced today that i...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources