Lakesmere’s specialist facade division McMullen Facades Limited has followed its parent group into administration.

Deloitte administrators said this morning that the profitable subsidiary was dragged down by cash flow issues in the wider Lakesmere Group, which entered administration on November 2, citing “financial challenges”.

McMullen works across the UK with projects in Chester, Leeds and London. The firm’s main office is based in Moira, Northern Ireland with a factory in Portadown. McMullen employs 270 people and there are no redundancies arising from the appointment.

Richard Hawes and Peter Allan of Deloitte are still trying to sell the business as a going concern and confirmed this morning that several interested parties are monitoring the firm.

Peter Allen said: “McMullen is a profitable business that unfortunately has been affected by cash flow issues in the wider Lakesmere group.

“McMullen therefore has continued to trade outside of insolvency whilst a buyer was sought. The business will continue to trade while we seek to sell it as a going concern and there are ongoing discussions with a number of interested parties.”