Rigger
Moderator
10 September 2010 Last updated at 10:00
Connaught sale to Morgan Sindall saves 2,500 jobs
There is no information what will happen with 1,900 other staff at the failed unit
About 2,500 jobs have been saved after administrators agreed to sell the bulk of Connaught's failed social housing group to building firm Morgan Sindall.
The unit employs about 4,400 people in total. The rest of Connaught's 10,000 workers are unaffected by proceedings.
Morgan Sindall is paying £28m for the assets, and will take over the majority of Connaught's maintenance contracts.
The employees will be transferred to Morgan Sindall's own affordable housing unit, Lovell Partnerships.
"Around 2,500 employees connected with the ongoing contracts will transfer to Lovell as part of the agreement," said Morgan Sindall in a statement.
Connaught sale to Morgan Sindall saves 2,500 jobs
There is no information what will happen with 1,900 other staff at the failed unit
About 2,500 jobs have been saved after administrators agreed to sell the bulk of Connaught's failed social housing group to building firm Morgan Sindall.
The unit employs about 4,400 people in total. The rest of Connaught's 10,000 workers are unaffected by proceedings.
Morgan Sindall is paying £28m for the assets, and will take over the majority of Connaught's maintenance contracts.
The employees will be transferred to Morgan Sindall's own affordable housing unit, Lovell Partnerships.
"Around 2,500 employees connected with the ongoing contracts will transfer to Lovell as part of the agreement," said Morgan Sindall in a statement.
