Administrators seek Rok buyer

ADMINISTRATORS are seeking a buyer for Rok after trading in the company’s shares was suspended.

Rob Hunt, Mike Jervis and Jeremy Webb of PwC were appointed as joint administrators and immediately began a review of the firm’s financial position.

Rok employs around 3,800 people providing repairs and maintenance services as well as taking on building projects in both the public and private sector.

The problems at Rok, which has offices in Leeds and Wakefield, come just two months after rival Connaught also went into administration.

Mr Jervis, partner at PwC said: “In response to changes in market conditions, Rok Plc had taken a number of steps to improve operations and to develop a sustainable and profitable business going forward.

“However, due to difficulties in meeting the company’s  financial obligations, the company and certain subsidiaries have been placed into administration to protect the business and assets.

“Our immediate priority is to urgently review the financial position of the company and seek a buyer of the businesses.  We will work with the existing management team, employees, suppliers and customers to try and ensure that we achieve a positive solution. 

“Employees will naturally be concerned about their position, but they will continue to be paid if they attend work and perform their duties as normal. We will provide further updates throughout the coming weeks.”