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News » UK » Reddington rescues McMullen Facades » published 24 Nov 2017

Reddington rescues McMullen Facades

All 270 jobs at McMullen Facades have been saved after JRL Group stepped in to rescue the business form administration.

McMullen Facades has an £11m contract to deliver the façade for a new hospital in Liverpool for Clatterbridge Cancer Centre Above: McMullen Facades has an £11m contract to deliver the façade for a new hospital in Liverpool for Clatterbridge Cancer Centre

JRL Group, which includes concrete contractor J Reddington, UK Facades and London Tower Cranes, has purchased McMullen Facades as a going concern.

McMullen was placed in administration earlier this week as a result of the failure of parent company Lakesmere, which itself went into administration two weeks before.

Peter Allen, joint administrator and partner at Deloitte, said: “We are delighted to have concluded the successful sale of McMullen, retaining all 270 jobs. McMullen remains a profitable business that unfortunately was affected by cash flow issues in the wider Lakesmere group.”

A JRL spokesman said: “The acquisition of McMullen gives us the capability to offer a structure and envelope package. This will give clients a single point of contact to get a watertight building, whilst allowing savings on preliminaries, improved coordination, better programme and risk management benefits.”

JRL’s intervention is expected to enable McMullen Facades to continue working on such high-profile projects as the Clatterbridge Cancer Centre NHS Foundation Trust’s new £162m specialist hospital in Liverpool, which Laing O’Rourke is building. McMullen Facades has an £11m contract to deliver the façade.

It also has an £18m contract to supply Canary Wharf Contractors with a specialist glazed façade for a new 30-storey residential tower on the Southbank Place scheme (the former Shell Centre) in London.

This was the second time that McMullen Facades had been in administration in recent years. Lakesmere rescued it from administration in 2012.

 

 

MPU

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This article was published on 24 Nov 2017 (last updated on 24 Nov 2017).

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