The 'vast majority' of jobs at a Nottingham based contractor that fell into administration this week could be saved according to latest reports.
Yesterday's news that NMCN, the Huthwaite based contractor and one of Nottingham's biggest firms, had fallen into administration rocked the city.
A letter sent to staff has been seen by trade publication Construction Enquirer, which reported that a sale of Infrastructure, Plant Transport & Accommodation, Telecoms and Water divisions is expected to complete in the next couple of days.
In the staff update from CEO Lee Marks, it said "These potential sales will secure the jobs of the vast majority of our employees as your current employment with nmcn will transfer to the new organisation under TUPE, with the interested parties taking on certain people and projects.”
The firm was in the process of building a 522 student bedroom complex in Traffic Street which is estimated be worth £35m.
It was reported that the firm did not sign off its 2020 accounts or secure a re-financing of its business and as a result has appointed Grant Thornton to oversee its administration.
In his letter to staff, Mr Marks is reported to have said: “Whilst this is positive news for the majority of our people, I understand that these are worrying times for everyone.”
Administrator Grant Thornton will hold calls with employees to discuss TUPE or redundancy options.
Yesterday, City Council Leader, Cllr David Mellen, said: “As a large local employer, it is also a blow for staff who have come through a difficult period in the construction industry."
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