Type
Bankruptcy
Country
United Kingdom
Region
Northern Ireland;
Location of affected unit(s)
Antrim
Sector
Construction
Specialised Construction Activities
Specialised Construction Activities
43.99 - Other specialised construction activities n.e.c.

252 - 298 jobs
Number of planned job losses
Job loss
Announcement Date
17 January 2014
Employment effect (start)
17 January 2014
Foreseen end date

Description

Construction firm Mivan is to terminate the contracts of 98 workers. This follows the company’s entry into administration the previous week.

Reportedly, the company has been in financial difficulties over a longer period and had cut down on staff after losing major contracts.

The management is currently looking for interested buyers.

One of Northern Ireland's best known construction companies, Mivan specialised in fitting out cruise ships and high-end commercial and residential developments.

UPDATE, 27-01-2014:

Mivan has announced to cease trading after not having found a buyer. In result, an additional 144 workers are to be made redundant. In total, job dismissals thus amount to 252 workers. The remainder of the staff will stay at the company until the administration and a few remaining contracts will be finalised.


Sources

  • 27 January 2014: BBC News
  • 17 January 2014: BBC News

Citation

Eurofound (2014), Mivan, Bankruptcy in United Kingdom, factsheet number 76511, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76511.