Former Midas chief executive bags new role

The former chief executive of collapsed builder Midas has been named as a business director for contractor and developer Real.

Alan Hope was appointed to lead the firm’s South West division, with Real, which was formed in 2021, citing his “wealth of experience” in the construction, housing, property development and property services sectors.

Hope was chief executive of Exeter-based contractor Midas at the time of its sudden collapse in February after it was badly affected by the postponement of or delay to contracts amid the COVID pandemic.

Administrators have since revealed that Midas Construction owed more than £60m, including a £4.5m debt to former employees.

Real CEO Paul Nicholls made reference to Midas’s collapse in a statement following the appointment of Hope, who he said would bring with him valuable knowledge of key sectors.

He added: “Alan [has] a clear remit to grow our South West business. [His] local knowledge and relationships will help us achieve our growth plans in the [region].

“Despite a previously great track record and long-standing reputation, Midas went into administration earlier this year, a stark reminder to us all [of] what a difficult market we are operating in.

“I am very aware of the impact of Brexit, the COVID pandemic and more recently the war in Ukraine […] on our industry and the subsequent demise of many long-established, well-run construction companies, despite the fantastic teams they had in place.”

Commenting on his appointment, Hope said he was “ready for the challenge of continuing [Real’s] growth”.

Earlier this month, Real appointed Matt Smith as its pre-construction director. He joined from Wates residential, has more than 30 years’ experience in the construction industry and is a member of the Chartered Institute of Building.

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