Thu, 15 Dec 2011 | ADMINISTRATION
A buyer is being sought for troubled North West engineering firm T Jolly Services, which has been placed into administration.
Lee Ross and Matt Dunham from administrators Grant Thornton have been brought in to manage the process. The firm’s installation division has been closed down with the loss of 65 employees. Its maintenance business is still operating, and the administrators hope to preserve the remaining 80 jobs with a sale of the business.
T Jolly Services was hit by ‘an increasingly competitive market, as well as cut backs and delays in public sector budgets’.
It installed and serviced commercial boiler and airconditioning units for commercial buildings, and operated from its offices in Birmingham, Leigh and Preston. Before entering administration it had 120 staff.
Speaking to Insolvency Today joint administrator Mr 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.”
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