Hopes rise that jobs can be saved at Huthwaite-based firm nmcn
Hopes have risen that “the vast majority” of jobs at collapsed engineering and construction firm nmcn, based in Huthwaite, can be saved.
It has been reported that large chunks of nmcn’s business will be sold in the next few days after the company went into administration.
This means that many of the contractor’s 1,700 employees across the country will be able to transfer to its new owners.
It is unclear whether this will include the 80 or so staff who were employed at nmcn’s headquarters at Nunn Close in Huthwaite or the 50 employees at one of its many regional centres at Annesley.
"I have heard nothing new,” said Karen Andrews, 41, who lost her job as a design leader at Huthwaite.
"Before they told us to down tools, they said people were interested in buying the business, but they couldn’t disclose who.”
Karen has been busy looking for new work since the company went bust and added:
"They need to act fast because there are lots of jobs out there. We have mortgages to pay and we can’t just hang on and wait.”
The possible reprieve for staff emerged from an e-mail sent out by nmcn’s chief executive officer, Lee Marks.
It suggested the sale of one of its core operations, in the water sector, was imminent, and that its infrastructure, plant transport and accommodation, and telecoms divisions could also be sold.
Mr Marks said: “These potential sales will secure the jobs of the vast majority of our employees as their current employment with nmcn will transfer to the new organisation under TUPE, with the interested parties taking on certain people and projects.”
TUPE stands for Transfer of Undertakings, Protection of Employment and is the process that looks after the rights of employees when a business changes hands.
If the sales go ahead, administrator Grant Thornton will hold talks with employees to discuss TUPE or redundancy options.
Mr Marks added: “While this is positive news for the majority of our people, I do understand that these are worrying times for everyone.”
A nationally-renowned firm, nmcn collapsed after hitting financial problems during the pandemic.
In 2019, its turnover was £404 million, but with losses growing, a rescue package failed and the company brought the curtain down on 75 years of trading.