Business advisors Deloitte have been appointed administrators at Moira based McMullen Facades Limited.
The company confirmed that Peter Allen and Richard Hawes of Deloitte have been charged with finding a buyer for the busines after the collapse of present owner, the GB based Lakesmere Group limited which went into administration on November 2 .
McMullen is the UK’s leading specialist facade contractor, working across the UK, with projects in Leeds, Chester and London.
Its main office is in Moira, with a factory in Portadown and offices in Winchester.
The firm employs 270 people across these facilities and there are no redundancies arising from the appointment.
“McMullen Facades Limited is a profitable business that unfortunately has been affected by cash flow issues in the wider Lakesmere group,” said Mr Allen.
“McMullen therefore has continued to trade outside of insolvency while a buyer was sought. The business will continue to trade while we seek to sell it as a going concern and there are ongoing discussions with a number of interested parties.”
Lakesmere Group Limited has experienced financial challenges, arising from a number of unprofitable contracts. This has resulted in Lakesmere Group Limited, its parent company Graceful Holdings Limited and its subsidiary Lakesmere Limited being placed into Administration.