Wed, 19 Jun 2013 | ADMINISTRATION
Mel Davison Construction has entered administration after tightening margins pushed up the financial pressures on the firm to an unsustainable level.
Based in Belfast and Portdadown, the business was established in 1989 by Mel Davison and his wife Paula Davison. Mr Davison has remained with the company in the role of chief executive. The business employs around 150 staff, with much of its work based around the four maintenance contracts it holds with the NI Housing Executive (NIHE).
It is unclear exactly what will happen to the business now. Meetings are set to take place between the administrators and senior officials from the NIHE to discuss the continuation of Mel Davison's service to NIHE tenants with the minimum amount of disruption to contracts.
Further discussions are due to take place regarding the future of the staff. Earlier this week around 50 workers organised a protest on the west Belfast site after being told they are to be laid off.
Cavanagh Kelly has been appointed to handle the administration. A spokesman for the firm said: “Tightening margins in MDC's activities have resulted in increased financial pressures that have proven unsustainable.”
____________________________________________________________________________
Related articles:
How to turn around a struggling business
View the latest construction businesses in administration
The company possesses up to 50 vans in stock on-site, with an indoor and outdoor showroom allowing it to fully showcase its stockholding. The business offers full dealer facilities, including arranged finance, optional breakdown cover and part-exchan...
LEASEHOLD
Luxury public service hire business for sale situated in the South West due to retirement. The business supplies refined and standard lavatory trailers to the event market.
The business publishes a fortnightly print and digital magazine, covering UK and international engineering industry news, machinery updates, financial insights, and company profiles. With a readership exceeding circa 45,000 globally, including 20,000...
07
|
May
|
In vitro diagnostics regulatory consultancy acquired by listed firm | BUSINESS SALE
Abingdon Health, a listed diagnostic test manufacturer based...
07
|
May
|
UK administrations update: April 30 – May 7 | ADMINISTRATION
Since our last update, the following businesses have been co...
07
|
May
|
Plant and vehicle hire group acquired out of administration | BUSINESS SALE
A Leicestershire-based supplier of specialist plant and vehi...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.