SVELLA buys out NMCN telco division following its collapse

Collapsing Building

Private investor SVELLA has bought out the telecoms, plant, transport, and accommodation divisions of NMCN following its collapse into administration.

SVELLA had been leading the proposed £24 million recapitalisation of the business before the plan fell through.

Since then, it has been working with the appointed administrators Grant Thornton to find the best future for NMCN’s umbrella of businesses and their employees.

SVELLA’s acquisition will allow the...