Sale out of administration saves 23 contracting company jobs

LOR Contracting, a specialist construction and demolition contracting business, has been rescued in part, following the appointment of Andrew Knowles and Steven Muncaster as joint administrators, both of Kroll, on October 26, 2021.

Following receipt of an offer for the assets of the company, shortly after the administrators appointment, a sale completed on November 2, 2021 to F I Construction, based in Chorley, with the deal securing the employment of 23 staff that have transferred over under TUPE as part of the transaction.

Andrew Knowles, joint administrator, said: “We are delighted to have secured the employment of 23 employees through a sale of the assets of LOR Contracting Limited. All jobs have been transferred as part of the transaction.

“The company had suffered severe cashflow difficulties as the economy came out of the COVID lockdown, due to a number of unforeseen costs and some loss-making contracts.

“We are, therefore, pleased with the outcome of the administration process which secured the future of its employees.”

The company was located in Atherton, Greater Manchester.