Jobs go as T Jolly flounders
MORE than 60 jobs have been lost at a long-established Lancashire engineering firm after it was placed into administration.
Two partners from accountancy firm Grant Thornton’s Manchester office, Les Ross and Matt Dunham, have been appointed to handle Preston-based T Jolly Services.
The company installs and maintains boiler and air conditioning systems for commercial properties was hit by increased competition cuts and delays in public sector budgets. It was owned by the private equity arm of the National Bank of Greece.
Jolly’s installation division has been shut down and all 65 staff have been made redundant.
In a statement Grant Thornton: “The administrators are continuing to trade the maintenance division with a view to achieving a going concern sale which if successful will result in the continuity of employment of the 80 employees in that division.
Joint administrator Les Ross said: “”T Jolly is a long established and well known company that has suffered from the recent downturn and has failed despite recent attempts to refinance.
“With the support of customers, suppliers and the workforce we are continuing to trade the maintenance division and are hopeful that a sale can be achieved in a short timeframe. Interest in the business since our appointment has been encouraging”
The company is based at Millennium City Park in Preston, and has offices in Leeds and Birmingham. Most recent company accounts show the company sales had fallen from £22.5m to £19.3m, and made a loss of £411,000.
