Daniel administrators hopeful of selling Subterra
The joint administrators at Daniel Contractors expect to sell the group's Subterra and other assets. Discussions are ongoing over the potential sale and the joint administrators are hopeful of agreeing a deal soon.
Negotiations are also continuing over the sale of the remaining assets of Daniel.
Bill Dawson and Dan Butters, partners at Deloitte, were appointed joint administrators to Daniel Contractors and Land and Marine Project Engineering on May 15.
Dawson, joint administrator and partner in Deloitte’s Restructuring Services team, said: "We are encouraged by discussions with potential buyers of Subterra and other assets of Daniel, and we hope to conclude negotiations soon.”
More than 550 staff at Daniel Contractors are transferring to new service providers. The joint administrators have reached agreement that sees:
- 328 staff engaged in the United Utilities contract transferring to Enterprise under TUPE regulations
- 225, who work on the Bristol Water contract, are due to be transferred under TUPE to May Gurney
- 185 staff from Land & Marine transferred to Murphy Group under TUPE
- 471 who work on Dŵr Cymru Welsh Water switched to another service provider under TUPE
Dawson commented: “We are pleased that the vast majority of jobs have now been safeguarded and staff are transferring to alternative service providers."
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