More than a third of WR Refrigeration’s workforce was saved yesterday after administrators agreed a deal to sell part of the business to a rival firm.
A total of 255 positions were secured after a number of major contracts were sold to property maintenance outfit Integral, which does a lot of work in the domestic sector.
Eddie Williams, joint administrator at PwC, said he was delighted a deal could be struck, but warned there would not be a positive outcome for all of the Leicester-based company’s 600 workers.
“We have received a number of expressions of interest for parts of the business and I am delighted to have completed a transaction with Integral that will preserve the ongoing employment of 255 employees,” he said.
“Our focus is now to continue to explore all options for the remaining parts of the business. However, I am afraid that some redundancies now appear inevitable based on the viability of the company and we will look to support the employees at this difficult time.”
WR Refrigeration fell into administration last week after suffering “continuing losses with associated cash pressures”. Its fate was effectively sealed when it was unable to secure additional funding to counter a winding up petition issued by HMRC earlier this month.
The company has a long history of providing installation, repair and servicing of refrigeration and air conditioning units to the retail and wholesale sectors, including some of the UK’s leading supermarkets.