An additional 144 redundancies have been announced following the news that Mivan is to cease trading.
The company went into administration earlier this month and following an assessment of the business and a number of contracts cancelled by customers, 98 redundancies were made January 17, with an additional 144 redundancies announced yesterday.
A small number of staff will be retained to assist the Administrators finalise some existing contracts which are close to completion.
Peter Allen of Deloitte, the business advisory firm, and Administrator of Mivan (No. 1) Ltd, commented: “The company was traded for a period of two weeks, while expressions of interest in the business as a going concern were explored.
“We received a number of indicative offers, but unfortunately no purchaser was able to complete. Although the business will now close, we are hopeful that there will be meaningful interest in a packaged sale of the assets. We would like to thank the company’s employees for their support and professionalism during this time.”
Peter Allen was appointed Administrator of Mivan (No.1) Limited on January 10. The Antrim-based international engineering company, Mivan (No.1) Limited, employed 289 people upon appointment and is the main trading company created from a restructuring of the group in 2012.