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No buyer found for Mivan as it cuts another 144 jobs

More than 140 jobs have been axed at Northern Irish construction firm Mivan after administrators failed to find a buyer for the company.

The jobs losses come on top of the 98 redundancies that were made on 17 January after the firm entered administration.

Mivan had previously employed 289 people.

A small number of staff will be retained to help the administrators finalise some existing contracts which are close to completion.

Deloitte’s Peter Allen, who was appointed administrator on 10 January, said: “The company was [trading] for a period of two weeks, while expressions of interest in the business as a going concern were explored. 

“We received a number of indicative offers, but unfortunately no purchaser was able to complete.

“Although the business will now close, we are hopeful there will be meaningful interest in a packaged sale of the assets.

“We would like to thank the company’s employees for their support and professionalism during this time.”

Mivan specialises in fitting out cruise ships and high-end commercial and residential developments. It has offices in the UK, Romania, Russia, North Africa and the US.

The group made losses on projects in Romania last year, which led to the restructuring of the business in 2012.

However, after continued problems the group entered rescue talks with rival Lagan Group Holdings but failed to reach agreement.

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