Around 50 jobs have been saved after Wirral-based facilities management and building services firm Selwyn Building Services Ltd was bought out of administration.
Administrators at FRP Advisory were appointed at Selwyn Building Services, which counts Wetherspoons, David Lloyd and Las Iguanas among its clients, earlier this week, official records show.
A spokesman for the administrators at FRP Advisory said: “We can confirm that administrators at FRP Advisory were appointed to Selwyn Building Services and after trading the business for a few days managed to complete a sale of the business to new ownership, securing all of the approximately 50 jobs in place at the time of appointment.”
The company, which had an annual turnover of more than £10m, had employed 112 people including 67 site-based staff as of its financial year-end, which covered the 12 months to 31 October 2016.
According to the group’s website, Selwyn Building Services has undertaken projects for a number of leisure and retail clients across the North of England.
In accounts filed this month with Companies House, the firm’s directors admitted it had had “a difficult year” with “considerable change in management” since the year end, with three directors leaving the company since January 2017.
This included the departure of the firm’s managing director and its financial director.
Business growth consultant Mark Yates took up the role of managing director earlier this year.
However, according to Companies House documents, Mr Yates’ role as a director of the company was ended on 17 August this year.
The accounts also revealed the company had a turnover of £10.8m but had suffered a pre-tax loss of £153,907. This compares with a turnover of £10.4m and a pre-tax profit of £60,013 a year earlier.
The group reported net liabilities of £66,051, compared with net assets of £66,916 in its previous accounts.
A spokeswoman for Selwyn Building Services confirmed the appointment of administrators when contacted by Construction News.