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Tue June 25 2024

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End nears for Britspace as sale efforts fail

24 Aug 11 Administrators for Britspace Modular Buildings have failed to find a buyer for the business and had to let go almost all the workforce.

Britspace was placed in administration on 15 August but continued to trade while a new owner was sought.

FRP Advisory, handling the administration, received more than 30 expressions of interest within four days. Nine interested parties visited the Britspace factory site and held meetings with both FRP Advisory and senior company staff.

All negotiations subsequently broke down, however, and yesterday employees were informed that all 225 of them were being made redundant, except for nine required to complete work in progress for a major customer.

Joint administrator David Thornhill said: “While there has been significant interest shown in Britspace Modular Buildings, the joint administrators regret that no sale of the business has been concluded. In view of this, and in view of the uncertainty employees have faced over the last few weeks, we have reluctantly concluded that there is no option but to make a significant number of redundancies with immediate effect.

“We will ensure all redundancy claims are processed as quickly as possible, and will work closely with the local job centre to provide support and guidance to redundant members of staff. 

“We shall continue to focus on the realisation of the company’s assets, as a going concern sale has not proved possible.” 

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