UP TO 129 jobs were said to be safe last night after the shock collapse of architectural design specialists the McMullen Group
The Moira based company which began trading as a commercial glazing firm grew during the Troubles and became specialised in developing bomb-resistant window frames.
It later moved into the design and production of high specification window systems and curtain walling and established itself as one of the UK’s leading contractors.
Late yesterday afternoon it was confirmed that Stephen Cave and Paul Rooney, from PwC’s Business Recovery Services department, had been appointed as joint administrators to the firm at the request of the directors.
Shortly after their appointment the administrators confirmed the sale of the business to a subsidiary of Lakesmere Limited, safeguarding all 129 jobs in place at the time of appointment.
Lakesmere Limited is a leading operator in the roofing and cladding sector of the construction industry based in Winchester, England. Lakesmere also has operations Warrington and Glasgow and operates throughout the Middle East from its international head office in Abu Dhabi.
“Falling demand, increased pressure on margins, investments in foreign markets and the general downturn in construction have collectively led to the directors’ decision to appoint administrators earlier today,” said Mr Cave.
“However despite this, I am pleased to announce we have been able to sell the trade and assets of the business, which will seek to secure 129 jobs and the continuation of the McMullen business under new ownership.”