Administrators save 80 jobs as T Jolly maintenance division is sold off
The maintenance division of failed contractor T Jolly Services has been bought by Atlas Clean Air, saving 79 jobs in the process.
Preston based T Jolly - which specialised in air conditioner, boiler and plumbing installations and maintenance - entered administration on 5 December with the loss of 65 jobs and the closure of its installation division.
Grant Thornton’s Les Ross and Matt Dunham were appointed joint administrators to the company, which continued trading up to the sale, made on 21 December.
Joint Administrator Les Ross said: “Following a short period of trading and an accelerated sales process, we are delighted to have achieved a sale of the maintenance division which will secure the continued employment of 79 members of staff.
“A quick outcome was essential to avoid the deterioration of the goodwill inherent within the business and avoid losing the support of a loyal client base. This represents the best outcome for the company’s stakeholders and also provides continuity of supply to the company’s long standing clients throughout the busy winter period.”
Lancashire based Atlas Clean Air will take on T Jolly’s head office in Preston as part of the deal.
T Jolly chief executive Mark Gordon led a management buyout of the company in 2008, backed by private equity firm NBGI Private Equity, the private equity arm of the National Bank of Greece.