APPOINTMENT: Jarvis
Administration
Jarvis, the engingeering group collapsed into administration, after banks refused to offer support to keep the York-based company trading. About 2,000 jobs are under threat. The group’s demise is despite signing a £55m contract to upgrade Chiltern Railways. Unfortunately, Jarvis plc reached a position where a substantial funding gap meant they were unable to continue trading.
Nick Edwards, of Deloitte, was appointed joint administrator on Friday. He said: “Unfortunately, Jarvis plc reached a position where a substantial funding gap meant they were unable to continue trading.
“Our immediate priority will be to work with stakeholders to stabilise the business while we identify which parts we can continue to trade and seek buyers for as going concerns.”
| Appointment date | 26 March 2010 |
| Employees | 2000 |
| Insolvency practitioners | Nick Edwards @ Deloitte LLP |
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