200 jobs have been saved after administrators agreed the sale of the UK’s largest modular construction company Caledonian Modular.
The Newark-based offsite building solution provider has been sold to the JRL Group after falling into administration in March.
JRL is a £280m-turnover group with 14 divisions including J Reddington, Midgard, and London Tower Cranes.
Joint administrator Mike Denny, managing director at Alvarez & Marsal, said: “The twin challenges of the pandemic and rising inflation have placed strain on balance sheets for businesses across the UK, including those in the construction sector.”
20 employees were already made redundant prior to the sale, resulting in ex-staff contacting employment law firm, Morrish Solicitors, to investigate allegations that the business failed to properly consult staff when making redundancies.
Source: The Business Desk