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Northern Irish construction group ceases trading 28 January 2014

International construction group Mivan No.1 Limited has ceased trading after the company entered administration earlier this month.

Administrators announced yesterday (27 January) that Mivan had ceased operations as a further 144 staff were made redundant.

Based in Antrim, Northern Ireland, Mivan experienced difficulties after a 2012 restructuring failed to improve the business’ fortunes.

Peter Allen of Deloitte was appointed as administrator to the company on 10 January 2014.

Allen said: “The company was traded for a period of two weeks, while expressions of interest in the business as a going concern were explored.

“We received a number of indicative offers, but unfortunately no purchaser was able to complete.

“Although the business will now close, we are hopeful that there will be meaningful interest in a packaged sale of the assets.

We would like to thank the company’s employees for their support and professionalism during this time.”

Following the appointment of administrators on 10 January, 89 redundancies were made on 17 January. Administrators have confirmed a small number of staff have been kept on to “finalise some existing contracts which are close to completion.”

Previous Mivan contracts include re-roofing the historic Dome of the Rock mosque in Jerusalem, outfitting the interior of the Scottish parliament in Holyrood and has twice refurbished the luxury liner, the QE2.



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