Mon, 10 Mar 2014 | ADMINISTRATION
Welsh contractor group Macob has entered administration, which has seen 180 staff lose their jobs.
Macob Property Holdings Limited, and its related companies which include Macob Limited, Macob Southern Limited, Macob Civil Engineering Limited, Macob Administration Limited, Macob Developments Limited and Macob Training & Safety Services Limited, have all ceased to trade as the company fell into administration on 4 March.
It has been revealed that the company, which is headquartered in Gwaelod-y-Garth, just north of Cardiff, has made 145 workers redundant from its head office, with a further 35 employees based in Chichester, West Sussex, also losing their jobs.
Begbies Traynor was appointed as administrator for the company last week. It has said that Macob Exchange, which owns the Coal Exchange in Cardiff Bay, is not affected by the news.
The contractor group was established in 1981 and at recent peak had 400 staff and a £40 million turnover. Despite having various high-profile projects, including the St David’s Hospital in Cardiff, the Pembroke Dock Community School and a 200,000-square-foot warehouse facility for L’Oreal at Llantrisant, the Macob Group has been unable to lower its prices enough to win work in the current market.
John Roberts, chairman of the Macob Group, said: “The prevailing trading conditions have made it impossible for the contracting companies to win work at viable rates.”
John Kelly, joint administrator from Begbies Traynor, added: “We’re still in the stages of making initial assessments but every effort will be made to ensure all assets are realised and that maximum recoveries are achieved for the creditors.”
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