Maintenance One has been rescued from administration by its main customer
Tesco, saving 825 jobs.
Vivian Bairstow, the administrator from Begbies Traynor, confirmed that Tesco
subsidiary Engineering Maintenance Services had purchased the company.
‘We are delighted that Engineering Maintenance Services has acquired
Maintenance One, whose dedicated workforce plays such an important part in the
smooth running of Tesco’s UK store portfolio,’ said Bairstow.
Maintenance One spent five months in
administration, after the company suffered cashflow problems.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies