More than 300 jobs lost as Midas Group falls into administration

National construction and property service firm Midas Group Limited has fallen into administration, with more than 300 employees losing their jobs.

Midas Group had seven offices across the South West and Wales. Administrators were appointed after the company struggled to recover from the impact of the Covid-19 pandemic.

Stephen Hindley, Group Chairman, said: “The disruption and supply chain inflation caused by the Covid-19 pandemic resulted in a number of critical contracts being postponed or cancelled. It has been a great privilege to work with our many employees, suppliers and customers over the years and my heartfelt thanks goes to them for the tremendous support that they have given to the business.”

Earlier today, national property services company Bell Group announced that they have completed the acquisition of Mi-space (UK) Ltd, the property services division of the Midas Group – saving an estimated 110 direct and indirect jobs. Read more about it here.