Pre-pack deal saves jobs at Lincoln repair and maintenance firm

Jobs have been saved at a Lincoln-based repair and maintenance firm following a pre-pack deal.

Administrators from Kingsbridge Corporate Solutions were brought into Meddo (CN) Limited) on 18 October 2017, after which the firm changed its name to MCN Relisations.

A sale of the company’s business and assets to Meddo Limited was completed and the company ceased trading. All employees have been transferred under the TUPE regulations.

A spokesperson for Kingsbridge Corporate Solutions said: “The Company entered administration due to cash flow shortages it experienced as a result of delays in a number of contracts. The company consequently experienced increasing creditor pressure and the directors felt they had no alternative but to place the company into administration.”

According to its latest published accounts for the financial year ending 31 July 2016, Meddo (CN) employed 50 people.