Rok administrators cut 235 positions
PwC administrators have made 235 redundancies, but say they saved 381 jobs
PwC administrators have made 235 redundancies, but say they saved 381 jobs
ADMINISTRATORS FROM PwC have announced 235 redundancies at collapsed building company Rok, but said they secured 381 jobs via an agreed sale.
Mansell Construction Services will buy the construction and social housing divisions in Milton Keynes, Gatwick and Heathrow, with the transaction scheduled for completion today.
The remainder, including divisions in Reading, Crawley, Bristol, and Leeds will close, resulting in the job losses.
Mike Jervis, Rob Hunt, Rob Lewis and Jeremy Webb were appointed joint administrators of Rok Plc and Rok Building Limited on 8 November.
PwC director and joint administrator Webb said: “We are delighted that we have been able to secure a sale of part of the business hence preserving employment for 381 people.
“This is tinged with disappointment that there was not sufficient interest in the other parts and hence the redundancies that have been made today.”
The administrators continue to retain a team of people across the Group to assist them in their duties including in the winding down of the Groups operations.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View articleShift from BBL debt to equity could pose wider business implications Read More...
View article