148 jobs go as Thornaby-based MJN Colston Limited goes into administration

Welsh Assembly
Image caption The company has been involved in work at the National Assembly for Wales

A Teesside-based building contractor has gone into administration with the loss of 148 jobs.

MJN Colston Limited is based in Thornaby and employs a total of 420 staff at sites including Gateshead, Bristol, Blackburn and Exeter.

The company has suffered a fall in business, which has been blamed in part on the economic downturn.

A spokesman for Deloitte, which is acting as administrator, said it was hoped a buyer could be found.

The firm provides mechanical and electrical engineering services for a range of public and private sector organisations.

Selling assets

It has worked on a range of projects, including an extension of the Royal Festival Hall in London, construction of the Welsh Assembly building in Cardiff and a revamp of Elmsleigh Shopping Centre in Staines.

In a statement, joint administrators Daniel Butters and Matt Cowlishaw, said the company would continue trading for the time being, while seeking a buyer for the business and its assets.

It went on: "Regrettably, it has been necessary to make 148 employees redundant.

"Our appointment follows a strategic review of MJN Colston Limited's financial position.

"We intend to trade the business in the short-term with a view to selling and novating the contracts to other providers.

"We will continue to work with the company's suppliers and customers and will seek to find a buyer for the business and assets to minimise disruption."

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