More than 40 jobs have been safeguarded in the West Midlands after a deal was completed for the sale of a company hit hard by the non-payment of a debt.

Marshdale Construction Ltd, of Essington, has been saved after insolvency specialists Currie Young completed a pre-packaged deal which has seen the business and certain assets purchased by a company led by Marshdale’s former senior staff.

As part of the sale, the Company’s goodwill including trading name was purchased and the newly formed Marshdale Construction Limited has taken on many significant contracts.

Currie Young’s team at its Brierley Hill office have led negotiations to secure a deal which has saved more than 40 jobs and safeguards key contracts.

“It’s no secret that conditions, particularly around the Coronavirus lockdowns of 2020/21 have led to major trading issues in the construction sector,” said director Justin Brown.

Statistics from the Government’s Insolvency Service show insolvencies were 36 per cent higher than before the pandemic. 4,317 construction firms went out of business in the year to 31 October 2023.

Currie Young has headquarters in King Street, Newcastle-under-Lyme, with further offices in Brierley Hill and Lichfield.

For further information on Currie Young, go online to www.currieyoung.com.

ENDS

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