A Nottinghamshire-based contractor responsible for multi-million pound developments across the country has fallen into administration.
NMCN plc, which is headquartered in Huthwaite, did not sign off its 2020 accounts or secure a re-financing of its business, reports Business Live, and as a result has appointed Grant Thornton to oversee its administration.
The company was the 12th biggest in Nottinghamshire as of 2019 with an operating revenue of £340m and more than 1,500 members of staff.
In a statement, a spokesperson for NMCN, which stands for North Midlands Construction, said: "NMCN today announces that the board of the company, having taken advice, has concluded that the company is no longer able to continue trading as a going concern.”
“The board of NMCN wishes to thank all of its shareholders, customers and suppliers for their support over the years and particularly Svella and those who had intended to participate in the equity subscription that formed part of the Proposed Transaction, which has had to be cancelled.”
NMCN chiefly offered design, build, operation and maintenance services.
In Nottingham it had carried out a number of projects including work on a 522 student bedroom complex by Nottingham's train station. The project was worth £35m.
Work started in December.
Elsewhere in the country, it was the principle contractor behind the controversial multi-million pound redevelopment of the Lime Street and St George's area of Liverpool.
A spokesperson for Liverpool City Council said: “We have been made aware that NMCN may have unfortunately entered into administration.
"Officers have been tasked with securing Lime Street and making it safe, whilst we await formal confirmation. The council will be seeking clarification on the matter to inform our next steps.”
