Pre-pack deal saves jobs at Lincoln repair and maintenance firm

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Jobs have been saved at a Lincoln-based repair and maintenance firm following a pre-pack deal.

Administrators from Kingsbridge Corporate Solutions were brought into Meddo (CN) Limited on 18th October 2017, after which the firm changed its name to MCN Relisations.

A sale of the company’s business and assets to Meddo Limited was completed and the company ceased trading. All employees have been transferred under the TUPE regulations.

A spokesperson for Kingsbridge Corporate Solutions said: “The Company entered administration due to cash flow shortages it experienced as a result of delays in a number of contracts. The company consequently experienced increasing creditor pressure and the directors felt they had no alternative but to place the company into administration.”