Belfast Telegraph

Mivan: Antrim construction firm ceases trading with loss of further 144 staff

By John Mulgrew

Antrim construction firm Mivan has ceased trading today with the loss of almost all of its workforce after entering administration earlier this month.

According to administrators Deloitte, a small number of staff will be kept on to "finalise some existing contracts which are close to completion".

144 staff were let go on Monday - just a week after the company shed 98 after entering administration earlier this month.

Merger talks at Antrim-based Mivan failed to reach agreement amid intense competition in the global market for specialist fit out and building contracts.

Outfitting the Scottish Parliament at Holyrood and refurbishing the luxury QE2 liner are among prestigious projects the company has been involved in.

The company was founded in 1975 by Dr McCabrey while he was still an engineering student at Queen's University Belfast.

Peter Allen of Deloitte said no new buyer had been found for the construction company.

"The company was traded for a period of two weeks, while expressions of interest in the business as a going concern were explored," he said.

"We received a number of indicative offers, but unfortunately no purchaser was able to complete.

"Although the business will now close, we are hopeful that there will be meaningful interest in a packaged sale of the assets.

"We would like to thank the company’s employees for their support and professionalism during this time."

Mivan No.1 Ltd employed some 289 people and is the main trading company created from a restructuring of the group in 2012.

The firm holds a Queen's award for exports and has twice been named UK Construction Firm of the Year.

Other previous contracts include re-roofing the Dome of the Rock mosque in Jerusalem, work on Disneyland Paris and theme park development for Universal Studios in Orlando, Florida.

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