McMullen Facades follows Lakesmere into administration

Aaron Morby 3 weeks ago
Share

Lakesmere’s major project cladding arm McMullen Facades has now fallen into administration.

Deloitte administrators said this morning that the profitable subsidiary was dragged down by cash flow issues in the wider Lakesmere Group.

They are still trying to sell the business as a going concern and confirmed this morning that several interested parties are circling.

McMullen employs around 270 staff mainly out of the Northerm Ireland factory in Portadown and its head office in Winchester.

So far no redundancies have been announced arising from today’s administration.

The firm, which is working on projects in Leeds, Chester and London, initially survived the collapse of its parent Lakesmere Group on 2 November.

Joint administrator Peter Allen said: “McMullen is a profitable business that unfortunately has been affected by cash flow issues in the wider Lakesmere group.

“McMullen therefore has continued to trade outside of insolvency whilst 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 bought Ted McMullen’s cladding business, then called McMullen Architectural Systems, from  administrators in 2012 follows deterioration in the firm’s financial performance caused by a downturn in the construction and significant investments made into foreign markets.

McMullen is presently working on an £18m cladding contract for the high-rise Shell Centre scheme in London and a landmark 42-storey residential development for Canary Wharf Contractors in London Docklands.

It is also working alongside main contractor Laing O’Rourke to deliver a £11m façade contract for The Clatterbridge Cancer Centre NHS Foundation Trust’s new specialist hospital in Liverpool.

Latest news

Crossrail site protest as Balfour lays off 50 sparks

Contractor insists redundancies are unconnected to £5,000-a-head finishing bonus demands
1 day ago

Interserve seals £180m lending deal for extra headroom

Debbie White seals deal for more time to restructure business
9 hours ago

Severfield lands steelwork package for Google HQ

Specialist to start work in June for main contractor Lendlease at King's Cross site
9 hours ago

Kier secures £138m London health deal

Kier P22 work haul soars to £400m
9 hours ago

Scape research reveals need for huge school building push

Procurement body calls for national school building strategy
10 hours ago

Carillion wins another £11.6m rail electrification deal

Network Rail awards station upgrade deal on Glasgow to Edinburgh route
1 day ago

Galliford Try wins £24m M49 junction

Work to start on new junction at Avonmouth in the New Year
9 hours ago

Costain director joins pipe-lining specialist

Tim Bowen takes the helm at Aquam to deliver ambitious expansion plan
1 day ago

Highways England to trial self healing roads

Sunflower oil capsules in asphalt could save £260m a year
1 day ago

Tarmac swaps quarries for Breedon concrete plants

Tarmac offloads four quarries for 27 Breedon ready-mixed concrete plants
1 day ago

Mace wins £140m London School of Economics project

Work to start on Marshall building once McGee completes demolition in the spring
2 days ago

Construction start date for £350m Tower Hamlets site

Planning go-ahead for Galliard Homes and Lindhill at Ailsa Wharf
2 days ago

Specialist Mick George moves into housebuilding

Civils contractor forms joint venture to target housing market
1 day ago

Fusion21 launches £150m sprinkler supplier panel

Local authorities and housing associations call for post-Grenfell preferred supplier list
2 days ago

Ardmore wins £77m Stratford hotel contract

Two-year build programme gets underway at the 18-storey Gantry development
2 days ago

Boost your online presence with the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
2 months ago

Lovell to start £30m Doncaster Lakeside scheme

Eastern division boasts £100m forward order book from string of schemes
1 day ago

Balfour Beatty on track for 2-3% margin by late 2018

Leo Quinn confident of paying down borrowings as they fall due in 2018
2 days ago

Skanska and Multiplex eye £100m City fringe office job

Aldgate Developments prepares to start £100m phase 2 office complex
2 days ago

Speller Metcalfe wins “non-confrontational” £16m contract

Contractor to start revamp of Derby Silk Mill next year using innovative procurement model
2 days ago

Plans for new £80m library at University of Bristol

Design team appointed as construction set to start in summer of 2019
2 days ago

Berkeley director’s wife sells £2.7m shares

Karen Ellis and John Armitt cash in shares as Berkeley soars to record high
2 days ago

Growing Geordie PRS firm plans Brum scheme

All Saints Living plans a string of build to rent projects
2 days ago

February start for £70m Brentford FC stadium

Buckingham Group set to start work on scaled-down Bees ground in West London
3 days ago

Interserve appoints ‘transformation’ director

Sally Cabrini joins board from United Utilities as Interserve set to be streamlined
3 days ago

Race on for £20m Luton Airport multi-storey car park

Bidding opens for a second major airport car park
3 days ago

Developer chosen for trio of Woking towers

Mixed-use specialist Coplan aims to start work on town centre transformation in 2021
3 days ago

Barhale achieves breakthrough on tunnel under the Thames

Civils specialist takes just three weeks to bore 330 metre tunnel for new gas pipes
3 days ago

Construction outlook brightens despite output gloom

HS2 awards see record spike in orders figures during the third quarter
6 days ago

Contractors to benefit from prequal red tape cut

Revamp of PAS 91 will help buyers know more about suppliers
6 days ago

Contractor services