Rok set to enter administration

| November 8, 2010
Rok set to enter administration

It has been revealed that Exeter-based Rok Plc, the building and social housing repairs company, has entered administration.

The news comes just two months after Connaught, the social housing maintenance group, called in the administrators after failing to secure funding to pay off a mountain of debt, leading to 1,400 job losses.

Meanwhile Rok, which works for councils, schools, housing associations and businesses, recently announced a £3.8 million loss for the first six months of the year.

The company, which employs over 2,000 trades people, recently said it had been awarded a £32 million contract with the Scottish Government’s economic and community development agency to provide design and construction services for the Highlands and Islands Enterprise.

However, in a statement today, the company said: “The board of Rok plc announces that it has resolved to put the company into administration and to make an application to the Financial Services Authority to suspend the listing and trading of the company’s ordinary shares.”

Shares in Rok have now been suspended and last traded at 18p.

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