NI construction firm goes into administration

Wed, 22 Nov 2017

Northern Irish construction company McMullen Facades has gone into administration following financial difficulties at its parent company.

McMullen makes and installs buildings' facades and have undertaken a number of high-profile projects including the Obel building (which is Belfast's tallest) and the city's Soloist building, as well as a number of other commercial projects in London.

The company employs 275 people and had a turnover of £37 million last year, but since its parent company, Lakesmere Group, went into administration earlier this month, the business has been struggling and, as a result, administrators from Deloitte have been brought in.

Peter Allen and Richard Hawes of Deloitte have been charged with finding a buyer for the business and discussions are ongoing.

McMullen is continuing to trade and there no redundancies have been made as a result of the administration.

“McMullen Facades Limited is a profitable business that unfortunately has been affected by cash flow issues in the wider Lakesmere group,” said Mr Allen.

“McMullen therefore has continued to trade outside of insolvency while a buyer was sought. The business will continue to trade while we seek to sell it as a going concern and there are ongoing discussions with a number of interested parties.”

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