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Thursday, 20 October 2011

Options Utility Services in Administration

Options Utility Services, the Maidenhead-based Utility Contractor, has fallen into administration.   The firm has about 60 staff along with about 200 subcontractors. However, it is continuing to trade without the loss of any jobs.  This is the second utility firm to go into adminstration this week.  Brockwell and Sons from Canvey Island also collapsed with the loss of 100 jobs.

FRP Advisory, the administrators, are looking for a buyer for the business.   They said in a statement that the margins had been squeezed by rising costs which meant that the busines was suffering financially.

Its current big project is seeing it working on the infrastructure for BT OpenReach
If the business is sold then the staff contracts will be taken on under TUPE rules.

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