Building firm Mivan in administration

Published Friday, 10 January 2014
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Antrim-based building firm Mivan has gone into administration.

Building firm Mivan in administration
Mivan is one of Northern Ireland's most prominent building firms. (© Pacemaker)

The business, which employs 289 workers, decided to call it a day after the failure of recent merger talks.

Chief Executive Ivan McCabrey said the company had suffered from intense competition in the global construction and fit-out market.

He said: "For some time we have been seeking to increase our international capacity and competitiveness through consolidation within the specialist construction and fit-out sector.

"I am aware that there has been considerable speculation around this issue and I can now confirm that our discussions have not resulted in agreement. Consequently, the directors have been reviewing future options in conjunction with our bankers and professional advisors.

"It is with regret therefore; that the directors have today sought the protection of administration in order to preserve the future options of the business."

Mivan has worked on projects all over the world including re-roofing the Dome of the Rock mosque in Jerusalem, fitting out the interior of the Scottish parliament at Holyrood, refurbishing the luxury liner the QE2 and Euro Disney in Paris.

It has twice been named as UK Construction Firm of the Year.

Mayor of Antrim Roderick Swann told UTV the news is "very disappointing" for the area.

He added: "We've always considered Mivan one of our local success stories and this is a very sad situation. I think this news will have a major impact on Antrim."

Business advisory firm Deloitte has been appointed administrator to Mivan.

Peter Allen of Deloitte said: "With the support of key stakeholders, including the bank, the business will continue to trade while all options are assessed."

© UTV News
Comments Comments
John in Newtownabbey wrote (383 days ago):
This company put food on people's tables, can't say that the fleg has ever done that. People should be marching for jobs, not flegs and traditional routes!
robbie in omagh wrote (383 days ago):
I worked for Mivian at Traford Center ,,Manchester ,,,was great ..
ray in Belfast wrote (384 days ago):
Why don't the flag protesters show their support for Mivan instead of protesting about a silly flag. It's jobs we need, not stupid protests which only harm our economy.
philip in belfast wrote (385 days ago):
sad sad day I worked for mivan for years was some of the best times of my life worked all over the world in some of the best hotels shops and houses and on bord the bigist and best cruse ships will never forget mivan for the chance of giving a young guy from the back streets of belfast best time and job ever
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