Administrator is in 鈥渁dvanced negotiations鈥� to sell parts of the business
Administrator Deloitte has confirmed it is in 鈥渁dvanced negotiations鈥� with contractors bidding for parts of stricken M&E firm MJN Colston.
The 拢100m-turnover specialist fell into administration last Thursday, resulting in 148 job losses. The century-old firm employed 400 staff before the administration.
Deloitte said in a statement that it intended to conclude the sale of parts of the MJN Colston business 鈥渂y the end of the week鈥�.
MJN Colston is one of the construction industry鈥檚 oldest specialist contractors, founded in 1890.
The company has nine offices around the UK and has worked on a number of prestigious projects, including Arsenal鈥檚 Emirates Stadium. Its headquarters is in Thornaby near Middlesbrough.
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