700 jobs are cut at Rok

MORE THAN 700 jobs have been cut at stricken housing repair company Rok after it plunged into administration on Monday.

Administrator PwC said the cuts mostly fall in the firm’s maintenance and construction operations, in an effort to trim down the 3,800-strong payroll ahead of a possible sale.

Mike Jervis, partner and joint administrator for PwC said: “Regrettably, the redundancies made today were necessary for economic reasons where there has been little or no interest in the business from prospective purchasers or where there was insufficient work for staff to carry out.”

The auditor said more than 100 firms had expressed an interest in the business, and that it will continue to meet with suitors today to draw up a shortlist.