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PwC in business negations to save Rok jobs

PwC is looking to find a bidder for building company Rok after it entered administration this week.

10 November 2010

PwC is undergoing business negotiations to try and sell Rok - the building and maintenance firm - after the company announced it had entered an application to suspend the trading and listing of its shares on the stock exchange on Monday (November 8th).

Administrator Mike Jervis said the firm had taken a number of steps to develop a sustainable and profitable business but after it experienced difficulty in meeting its financial obligations, it was placed into administration in a bid to protect its assets.

"Employees will naturally be concerned about their position, but they will continue to be paid if they attend work and perform their duties as normal," he added.

The immediate obligation faced by the enterprise is to review its economic situation and seek a buyer for the company, he stated.

According to the Express and Echo, a reported £60 million is owed to creditors, including Clydesdale Bank and HSBC.

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