A Lurgan firm is facing possible closure - with 33 jobs on the line.
Maurice Stevenson Limited (MSL), one of Northern Ireland’s longest established mechanical installation firms, has appointed Administrator Gerard Gildernew to assess the options available in respect of the business.
The family-owned company, which has a history stretching back almost 100 years is based in Lurgan’s Annesborough Industrial Estate and currently employs around 33 staff.
In recent years, the Company has experienced a number of financial challenges following a downturn in the sector generally, resulting in contractors going into insolvency with consequential bad debts, compounded by increasingly tight margins and the marked reduction in public sector works orders.
The death of the Company head, David Stevenson, in 2012 created significant challenges for his widow whose best efforts to keep the business going could not overcome the toughening market conditions.
In the coming days, the Administrator will work with the Directors to ascertain if a buyer can be found for the business and thus avoid the company having to close its doors.
Staff have this evening been advised of the situation.
Speaking about the possible closure Mrs Alison Stevenson said: “It is with the deepest of regret that we find ourselves having to place the company into administration. I want to pay a heartfelt tribute to current and former staff who have worked hard and demonstrated immense loyalty to this firm and our family down through the years.”
Expressions of interest in acquiring the company’s business should be communicated to the Administrator’s office in the first instance.