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Rok rescue hopes fade

By This Is Money
Updated: 06:49 EDT, 14 November 2010

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Mears Group, the favourite to rescue failed building group Rok, has cooled on a deal - raising fears for the 2,800 staff.

With interest fading, administrator PricewaterhouseCoopers seems unlikely to find a taker for Rok as a single entity. Instead, it is likely to sell Rok in three parts - a Scottish business, an operation for England and Wales and a maintenance and insurance arm.

Mears had hoped Rok might have big contracts for social housing maintenance, but is considering its options after seeing the books.

Outsourcing specialist Mitie, based in Devon, has emerged as a possible buyer for Rok's insurance work.

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