Jobs saved after modular building specialist bought out of administration

The business and assets of a Hull-based company, specialising in modular building construction, have been acquired out of administration, safeguarding more than 70 jobs.

Dean Watson and Paul Stanley of Begbies Traynor were appointed as joint administrators of Module-AR Ltd alongside Rikki Burton of Anderson Brookes on 27 October 2023.

Following a marketing campaign and negotiations with various parties, the joint administrators have confirmed they have completed the sale of the business and assets of the £30m turnover company as a going concern to a third party.

Watson, partner at Begbies Traynor, said: “We are pleased to have completed a going concern sale of the business, which safeguards the jobs of a loyal and skilled workforce.

“These are particularly challenging economic times for everyone in the construction sector but this acquisition saves jobs and enables operations to continue.

“We have been assisted by Rob Turner of Brabners and Paul Pilling of Hilco Valuation Services with the transaction.”