Troubled offsite specialist Mid Group has laid off all staff as the firm’s services subsidiary is set to be placed into administration.
The contractor, whose latest accounts showed it brought in revenues of £55m, will make up to 37 staff redundant and appoint administrators for the business.
The firm’s parent company, Mid Holding Co UK Ltd, appointed Jason Elliott, partner and head of business recovery at accountancy firm Cowgills, as a joint administrator last week.
Its services division is now set to be handed to administrators today, with staff told that they no longer had a job with the firm.
Speaking to CN, Elliott said: “We are expecting to be engaged, with a decision to liquidate Mid Group Services [Ltd] today. All employee contracts are held within the services company […]
“We have seen an announcement [from the company] that staff are currently being made redundant. We cannot confirm numbers as we haven’t been engaged yet.”
The latest accounts for Mid Holding Co UK Ltd show that the firm posted a pre-tax loss of £2.5m for the year to the end of 2020 from a turnover of £55.7m.
Founded in 2014, the company considered itself an expert in offsite and modern methods of construction – working in the residential, education, health and commercial sectors.
It described itself as one of the “fastest-growing” construction firms in the UK, with projects including the £26m Lymington Fields school in Barking & Dagenham, the £8m Stonebridge primary school in the London borough of Brent and the 12,000-pupil £33m Helena Romanes school in Essex.
Last week, Countryside closed its modular construction factory in Leicestershire amid efforts to manage losses.