Type
Bankruptcy
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Civil Engineering
42 - Civil engineering

1,400 jobs
Number of planned job losses
Job loss
Announcement Date
10 September 2010
Employment effect (start)
Foreseen end date
13 September 2010

Description

On September 13th  maintenance and repair company Connaught, which specializes in social housing contracts, announced another round of layoffs bringing the total to 1400 job losses. Administrators hope that that up to 600 of these redundant employees can be employed by firms who bought the 8 contracts from the insolvent Connaught, which has a debt of approximately £220 million. 


Sources

  • 13 September 2010: BBC Website
  • 13 September 2010: Financial Times
  • 13 September 2010: The Guardian

Citation

Eurofound (2010), Connaught, Bankruptcy in United Kingdom, factsheet number 71082, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71082.