Local building services firm, A.C.J. Air Conditioning (Jersey) Limited, has ceased trading after 40 years. The company, which has carried out work on some of the Island’s most prestigious building projects, has reached a stage whereby it can no longer continue to trade without significant cash injections, which are not available in the current economic climate. Sadly redundancies have been made in relation to all 37 members of staff.
The Guernsey sister company, Building and Technical Services (CI) will also discontinue their services, resulting in the redundancy of their 3 members of staff.
Moore Stephens Risk and Recovery Limited are advising the board of Directors of A.C.J. Air Conditioning (Jersey) Limited and it is likely that the company will enter a creditors’ winding up under the Companies (Jersey) Law 1991, as amended. The Directors will therefore proceed with the appropriate meetings over the coming weeks to finalise their decision.
Adrian Rabet, Director of Moore Stephens Risk and Recovery Limited commented:
“The Directors have put in every effort to find additional funding or a buyer for the business so as to secure the jobs of their employees; however, it is very unfortunate that in the present economic situation they have been unable to do so. It is with great regret that the Directors have been advised that there is no alternative but to take the course of action they have and offer redundancies to their employees.”
All staff members have been advised of their rights under the new Social Security insolvency regime and will be given all the assistance they need in order to claim the benefits due to them in accordance with the law.
A meeting of the creditors will be held in due course and notices are expected to be dispatched early next week.”
Category: Finance & Business