The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Construction Specialised Construction Activities Specialised Construction Activities 43.3 - Building completion and finishing
109 jobs Number of planned job losses
Announcement Date
3 November 2017
Employment effect (start)
Foreseen end date
Description
The Lakesmere Group has entered administration with the loss of 109 jobs. The firm which specialises in cladding and finishing buildings employed 241 staff across the UK at the time when administrator Deloitte was appointed. The company has announced that the wholly owned subsidiary, McMullen Facades, which is based in Northern Ireland and employs 275 staff, continues to trade and there will be no redundancies in this part of the business. The group has however, not ruled out the possibility that McMullen Facades might be sold. The future of the rest of the UK workforce has yet to be determined.
Sources
3 November 2017: Construction News
3 November 2017: Insider.co.uk
Citation
Eurofound (2017), Lakesmere Group, Bankruptcy in United Kingdom, factsheet number 92439, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92439.
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