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Specialist demolition contractor Coleman Group is to make around 50 members of its work force redundant after “significant” disruption caused by the coronavirus lockdown and the cancellation of its single largest project prompted a restructuring.
The transformation of the Broadmarsh shopping centre in Nottingham
– Coleman’s biggest job – was cancelled while projects at Euston station for
HS2, the Coventry Point office block deconstruction, and work for the National
Grid were all paused before restarting.
The company said a reduction in headcount by around 50
people, down from its current level of 110, would “put it in the best shape to
meet future challenges, with a more cost-effective, flexible approach”. The
company hopes to achieve the reduction through voluntary redundancies wherever
Group chief executive Mark Coleman said: “It is devastating
that good people will be leaving us as a result of this restructure, but like
many other businesses in the UK we have faced the most difficult and
challenging trading conditions of our lifetimes.
“We foresee our business as operating more efficiently with
an annual revenue of £12m-£15m, compared to the current level of £25m.
“We see a future where our management expertise remains at
the core of our capabilities. By leveraging industry partnerships, we will
become more cost-effective and flexible.”
He added: “After 57 years in this business we have a wealth
of knowledge, robust client relationships and a strong heritage to draw
on. We will emerge from this restructure not just nimbler – and with a
more scaleable model – but as leaders in the use of technology and smart partnerships
to deliver the most efficient and effective results for our clients.”