The collapse of MJN Colston has resulted in 241 redundancies and the closure of seven offices, administrators confirmed this afternoon.
Deloitte confirmed that property maintenance and building services business Integral has acquired the Ministry of Defence’s South Western and Eastern Prime contracts previously managed by MJN Colston, as reported by Construction News today.
That deal has saved 47 jobs. But the administrators said they have not been able to find a buyer for the remaining mechanical and electrical contractor’s business, resulting in 241 redundancies. This includes the 148 job losses initially announced.
Deloitte said 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, along with some contracting work managed from Bury St Edmunds and Bristol which was not acquired by Integral.
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. The sale of part of the business has enabled the jobs of 47 employees in Bristol and Bury St Edmunds to be saved.”
The Leeds office of Addleshaw Goddard advised the administrators on the sale after they were appointed on 23 February.
The MOD contracts bought by Integral - whose managing director Bryan Glastonbury is a former MJN Colston MD - are thought to be worth as much £5m per year.
Other firms understood to have been interested in parts of the MJN Colston business were Imtec, Dodd Group and Spie Matthew Hall.