Cement, Concrete, Aggregates
Rotary staff face anxious wait as Irish firms close
Hundreds of staff at M&E contractor Rotary are waiting to hear whether their jobs are secure as administrators were called into the Dublin and Belfast businesses of the group.
Around 60 staff lost their jobs after Rotary Services in Belfast closed its doors yesterday, and the Dublin business was placed in administration earlier this week, according to a report by the BBC.
Now more than 500 staff are waiting for a statement about the future of the operations in England.
Several M&E contractors are understood to have looked at Rotary since the for sale sign went up when Australian parent company Hastie fell into administration in May.
Rival M&E firm Lorne Stewart is understood to have made a serious approach and a deal may still be in the offing for Rotary’s remaining businesses.
But the quick deal promised by Rotary CEO Phil Laidlaw has so far failed to materialise.
Rotary’s head office is in Warrington with regional divisions operating out of offices in Newcastle, Leeds, Ruislip and Livingstone in Scotland.
FTI Consulting, which is understood to be acting as administrator in Ireland and spokesman for the company, is expected to make a statement shortly.
Rotary was established in Northern Ireland by the Jennings family in 1954 and grew into a major player as well as leading the UK export drive with overseas contracts.
The firm was snapped up for more than £100m four years by Australian building services specialist the Hastie Group.
But the fast-growing Hastie Group was placed into administration after running up debts and talks with banks to refinance the business failed.
Sixty jobs axed at Rotary Services as Belfast office closed