Builder Rok to enter administration
Rok asks for its shares to be suspended as it lines up insolvency
EXETER-BASED building company Rok is set to enter administration.
The company, which employs more than 2,000 people, applied to the stock exchange this morning for its shares to be suspended.
“It is anticipated that the administration and suspension will become effective shortly,” Rok said in its statement.
The company has struggled in recent months, including a writedown following the discovery of financial controls problems within its plumbing, heating and electrical division.
Rok’s FD Ashley Martin was initially suspended after the discovery, but the suspension was subsequently lifted with no wrongdoing or malpractice found. Martin then left the company.