Administrators who saved more than 1,600 jobs at a £400m turnover construction business have instructed CAPA to conduct audits at sites the firm operated.
Grant Thornton was called in last year as administrators to NMCN, in what was one of the largest business failures in the construction industry since the collapse of Carillion.
After agreeing three separate sales of different divisions of the company, which secured the jobs of 1,642 employees, Grant Thornton appointed CAPA to undertake rates audits of 22 sites NMCN occupied.
NMCN had suffered financial problems throughout the pandemic, issuing a string of profit warnings throughout the past 18 months, and stating at one stage that it expected a pre-tax loss of £43m for 2020.
Ultimately, Helen Dale, Jonathan Roden and Nigel Morrison of Grant Thornton, were appointed administrators in October last year.
After securing the three sales of different divisions of the business, the administrators instructed CAPA. It means CAPA’s Audit team will now use bespoke software to carry out a forensic inspection of rates paid to councils across the 22 locations.
They will interrogate the data to identify any errors or anomalies, before recovering any overpaid sums for the creditors of NMCN, on a no-win no-fee basis.
