Administrators Alvarez & Marsal are looking at options for the collapsed £43million-sales offsite giant Caledonian Modular, including finding a potential new owner, while the business is continuing to trade in the interim.
Caledonian Modular, based in Edinburgh with its manufacturing facility in Newark, Northamptonshire, designs and constructs permanent modular buildings, for the residential, education defence, hospitality and healthcare markets.
In the year ending March 2020, it reported a £2.8million pre-tax loss on £45.3million in turnover.
Mark Firmin and Mike Denny of Alvarez & Marsal have been named as joint administrators. A spokesperson said: “The administrators are continuing to trade the business while exploring all possible options for its future, including finding a new buyer.”
“Regrettably, 28 employees – around 10 per cent of the total workforce – have been made redundant as part of the administration process. Every effort will be made to support them during this difficult time.”
