Council homes renewal firm goes into administration
8:54am Thursday 9th September 2010 in News
THE company which helped modernise Bolton’s council housing stock has gone into administration.
Social housing firm Connaught, which employs 10,000 people across the country, had suspended trading of its shares and financial specialists KPMG have been appointed as administrators.
The company was one of several contractors who carried out improvement work across the borough’s 18,500 council houses.
A spokesman for Bolton At Home said: “Connaught were one of several partners that carried out work as part of the capital improvement programme.
“That partnership ended in March 2008, so any developments will not impact on our services.”
KPMG said last night it hoped to transfer the majority of staff to other social housing providers, along with ongoing contracts. A spokesman added: “Decisions regarding redundancies will be announced as soon as possible.”
