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News » UK » Pre-pack deal saves 38 trade jobs at Bolton company » published 28 Jul 2017

Pre-pack deal saves 38 trade jobs at Bolton company

The administrators of a Bolton construction trade company have sold the business to the existing management in a pre-pack deal, saving all 38 jobs.

Administrators from Yorkshire-based insolvency specialist Wilson Field were called in by the directors of Mercer Group on 7 July 2017. The administrators said that the company, based at Turton House on Wellington Road in Bolton, had suffered due to serious underpayments from clients resulting in VAT and PAYE arrears and issues with HMRC.

Mercer Projects Ltd has now bought the company for an undisclosed sum with all 38 staff from across the group being transferred to the new company.

Wilson Field said that, as well as saving jobs, estimated redundancy and holiday pay totalling almost £97,000 were mitigated resulting in a better return to creditors. Kelly Burton, director and insolvency practitioner at Wilson Field, said: “We are pleased that the sale of the company to Mercer Projects has resulted in all 38 jobs being secured and that the business will continue to trade. We determined that a pre-packaged sale would be in the best interests of creditors.”

Director Alison Mercer said: “It is very frustrating when events which are outside of your control threaten the very existence of your business and the jobs of a loyal workforce. Working with our advisors and staff, the future of Mercer Projects now looks very positive.”

The companies began as Mercer Brothers Limited in 2004 and D Mercer and Sons Ltd in 2009 as plastering only businesses and quickly evolved into a multi-trade company, to become known as Mercer Group. During a period of quadruple growth between 2012 and 2013, the company relocated its offices to Bolton and undertook work in both the public and private sectors including residential, educational, medical and commercial properties. Specialisms included demolition, plastering, screeding, tiling, flooring, joinery, painting and decorating, structural and ground works and roofing.

 

 

MPU

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This article was published on 28 Jul 2017 (last updated on 28 Jul 2017).

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