Angry former employees of Wrekin Construction marched on the group’s former headquarters in Shifnal, Shropshire yesterday to demand answers as to why they’ve been made redundant, as news emerged the firm had an £11m ruby listed as an asset.
Wrekin went into administration last week, after it blamed RBS bank for not lending it the money needed to meet £40m worth of orders. But end of year accounts showed that in 2007 the company exchanged £11m worth of shares for the ruby.
Sign up to our weekly round-up of HR news and guidance
Receive the Personnel Today Direct e-newsletter every Wednesday
About 500 employees met before descending on Wrekin’s headquarters yesterday. They were advised that if they wished to visit the branch yesterday, between 11am and 3pm, then they would get an offer to individually discuss their redundancy situation, according to Personnel Today’s sister publication Contract Journal.
The redundancies will affect staff at Shropshire, Yorkshire, Northamptonshire and Cheshire.
