Administrators said they had been unable to save the jobs of 80 people affected by the failure of the NMCN building contractor.
The Notts contractor – whose most recent accounts showed revenues of more than £400 million – was working on a number of high profile schemes when it appointed Grant Thornton to oversee its administration a few days ago.
Buyers have been found for a number of NMCM divisions, securing the jobs of almost 1,600 people.
However no-one has come forward to take on the group’s buildings division, which – along with a number of other jobs that have not been saved – has resulted in the 80 redundancies.
Huthwaite-based NMCN was one of Nottinghamshire's biggest firms, responsible for working on major projects around the 海角视频, including a 522 student bedroom complex in Nottingham, the city’s Trent Bridge Quays luxury apartment scheme, and major roadworks around Liverpool Lime Street station.
SVELLA, which buys controlling interests in underperforming businesses, has since bought NMCM’s telecoms, plant hire, transport and accommodation business divisions of NMCN, securing almost 700 jobs.
Galliford Try has bought its water business, including Lintott, for £1 million, protecting around 900 jobs.
The company behind the Trent Bridge Quays apartments and townhouse scheme on the River Trent in Nottingham has brought in Leicester-registered Bode Contracting Ltd to replace NMCN.
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In a joint statement Nigel Morrison, Helen Dale and Jon Roden, from Grant Thornton said NMCN Plc and NMCN Sustainable Solutions had suffered “significant cashflow pressures” in 2020 and subsequent losses.
They said its advisors had worked hard throughout much of 2021 to try and deliver a successful refinancing and secure the future of the business.
However, the problems it had faced and ongoing losses in 2021 were too much to secure refinancing in the required timescale.
Grant Thornton director Rob Parker said: “The joint administrators are very pleased to confirm the sales of three of the divisions of the group and are in continued dialogue for the sale of the infrastructure division in the coming days.
“The sale of the three divisions safeguards jobs for over 1,500 people.
“The joint administrators intend to continue to operate part of the group’s head office function, in support of SVELLA plc, the purchaser of the telecoms and plant divisions, as well as Galliford Try Water Limited, who purchased the group’s water division.
“It is, however, with regret, that due to a number of legacy contract issues, the joint administrators have not been able to achieve a sale of the group’s buildings division, which together with some other central roles in the group has resulted in the redundancy of 80 people.
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“The Grant Thornton team will work with the employees affected to support them through this process.”
SVELLA chairman – and former Stobart Group chief executive – Andrew Tinkler said: “The acquisition of the telecoms, plant, transport and accommodation business divisions by SVELLA safeguards over 680 important skilled roles and secures continuity of service for key national telecoms clients.
“NMCN was one of the 海角视频’s fastest-growing telecoms contractors and was actively supporting the government’s ambitions for nationwide coverage of ultrafast fibre broadband through a number of significant infrastructure contracts and frameworks.
"We aim to continue to deliver on these ambitions.”
Bill Hocking, chief executive of Galliford Try, said: "I am delighted to welcome the employees, clients and suppliers of NMCN water to Galliford Try.
“This acquisition is an excellent strategic fit with our existing business and will accelerate the growth of our successful environment division, providing work with new clients and increasing our capabilities.
“This is a very exciting time as we deliver our Sustainable Growth Strategy and I look forward to a bright future for our collective team."
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