Portsmouth, 11 July 2022 – Michael Magnay and Mark Firmin of leading professional services firm Alvarez & Marsal Europe LLP were appointed as Joint Administrators to Brymor Group Limited (“BGL”) and Brymor Construction Limited (“BCL”) on 8th July 2022.

BGL and its subsidiaries, including BCL (together "the Group"), are based in Portsmouth, Hampshire, and operate as a main contractor in the construction industry. On the appointment of the Joint Administrators, BCL was operating approximately 13 live project sites, with 107 employees.

Immediately following the appointment, a sale of certain of the business and assets of BGL and BCL was completed to SHOO997 Ltd and SHOO996 Ltd (“the Purchasers”). The Purchasers are newly incorporated entities, owned and funded by Portchester Equity Limited (“Portchester”).

The sale has secured the employment of all employees who have transferred to the Purchasers as part of the sale.

Michael Magnay, Managing Director, Alvarez & Marsal, said: “The UK’s construction sector is facing structural headwinds which unfortunately the Group was unable to weather. By facilitating the sale of the business and its assets to the Purchasers, we are pleased to have preserved the jobs of over 100 highly skilled employees and secured a future for this respected business. We wish the company and its new owners every success moving forward.”

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