Mackoy Groundworks rescued from administration

Geocore Civils Limited has rescued civil engineering specialist Mackoy Limited from administration, safeguarding 20 jobs.

Mackoy, trading as Mackoy Groundworks, was recently placed into administration, with business advisory firm Quantuma appointed to manage the process.

Founded in 2011, Hampshire-based Mackoy provides groundworks, infrastructure, and civils services to leading UK house builders, and reported revenue of £23.3 million last year.

However, the business recently experienced a range of challenges, including increasing materials and labour costs, which affected previously agreed contract prices.

Combined with changes in buyer behaviour, this negatively impacted cash flow and profitability at Mackoy.

Geocore will now oversee several contracts at sites where Mackoy had been working, to maintain services for most of its clients.

As part of a pre-pack sale, all former Mackoy staff will now transfer to the new owner.

A joint administrator at Quantuma said: “I am incredibly pleased to have achieved such a positive outcome for this highly regarded business, ensuring that all employees’ jobs have been saved.

“We are happy to have secured the long-term viability of the business, allowing it to continue its journey.

“We wish the team every success in their next chapter.”

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