Stephen Cave and Paul Rooney, from PwC’s Business Recovery Services department, have been appointed as Joint Administrators to the specialist curtain walling and window systems company, McMullen Architectural Systems Limited.
McMullen is based in Moira and operates in the design, fabrication and installation of aluminium curtain wall and window systems for medium and large scale building projects across the UK.
The appointment was made yesterday at the request of the directors.
Shortly after appointment the Administrators confirmed the sale of the business to a subsidiary of Lakesmere Limited, safeguarding all 129 jobs in place at the time of appointment.
Lakesmere Limited is a leading operator in the roofing and cladding sector of the construction industry and is based in Winchester, England. Lakesmere also has operations Warrington and Glasgow and operates throughout the Middle East from its international head office in Abu Dhabi.
Operating for over 40 years McMullen has been involved in a number of landmark developments including Belfast properties, the Boat and the Obel.
Commenting on the appointment, Joint Administrator, Stephen Cave said:
“Falling demand, increased pressure on margins, investments in foreign markets and the general downturn in construction have collectively led to the directors’ decision to appoint Administrators earlier today.
“Unfortunately the appointment will come as another set back to the already embattled construction supply chain both in Northern Ireland and further afield.
“However despite this, I am pleased to announce we have been able to sell the trade and assets of the business, which will seek to secure 129 jobs and the continuation of the McMullen business under new ownership.
Confirming that the sale to Lakesmere Limited had now been completed, PwC said some temporary disruption to business activity and work in progress might occur as projects are transferred to the new owners, but this was likely to be temporary.