Byrne Group steps-in to save O’Keefe
O’Keefe has been struggling economically and struck a Organization Voluntary Arrangement with its collectors very last calendar year.
Concrete body expert and contractor Byrne Team has now set up O’Keefe Construction (Byrne Team) Minimal and O’Keefe Demolition (Byrne Group) Confined.
The O’Keefe identify will now sit alongside Byrne Bros (Formwork) and Ellmers as section of the enlarged Byrne Team.
O’Keefe’s senior management workforce all keep on being and staff members contracts of work and entitlements, and plant, machines and yards stay in place ensuring a seamless continuation of recognized contracts.
A Byrne Team assertion claimed: “The acquire secures greater chances for Byrne Group and O’Keefe as their consumer foundation is improved with the skill to provide a a person-end-shop to the marketplace, from demolition to fit out.”
O’Keefe was shaped in 1970 by Patrick O’Keefe Senior who experienced occur to London from his native Ireland as a 19-yr-aged to search for function as a ganger on making internet sites.
Newest total team final results posted at Firms Dwelling for the year to Might 31 2020 present a pre-tax reduction of £1.8m from a turnover of £61.1m as the company used 178 team.
O’Keefe ran into difficulties with the onset of Covid, with over £40m of deal get started dates slipping.
Subsequent the CVA in September 2021, O’Keefe has been hit by large costs will increase in the offer of supplies put together with a reluctance from the credit score marketplace to assist the business.
The demise of Caledonian Modular in March 2022, with whom O’Keefe have been working on two projects, intended that in spite of continued shareholder guidance, the administrators of O’Keefe required to discover a additional money injection.
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