But takeover deals for Colston’s other contracts have fallen through forcing administrator Deloitte to make another 241 staff redundant.

Deloitte initially let 148 staff go last month when it took over the running of the stricken firm.

The Intergral deal to take over the contracts will save jobs based in Bristol and Bury St Edmunds where Colston was working on contracts with Babcock and Lend Lease.

Integral Managing Director, Bryan Glastonbury, said: “I was extremely saddened to hear of MJN Colston going into Administration, having been the MD of the business in the 80’s and 90’s, when it was extremely profitable.

“I am delighted to be given the opportunity to save the employment of some very loyal staff and have the opportunity to support both Babcock and Lend Lease on some very interesting projects.”

Deloitte joint administrator Daniel Butters said: “Regrettably, it has not been possible to find a buyer for all of the MJN Colston business and therefore it was necessary to make a total of 241 employees redundant across the business.

“Employees in this position were paid up until the last day of employment.”

The move has resulted in the closure of the offices located in Gateshead, Blackburn, Coventry, Exeter, Bridgend, Croydon and Thornaby, together with certain contracting work managed from Bury St Edmunds and Bristol that was not acquired by Integral.

Deloitte has also ordered a specialist company to dispose of all Colston’s tools and equipment.