Pandemic sends NG Bailey sinking into red

By Dave Rogers2021-10-28T09:06:00

M&E contractor spent more than £12m on topping up salaries and redundancies

The impact of the covid-19 pandemic sent M&E contractor NG Bailey tumbling into the red last year as the firm said it spent more than £12m on redundancies and topping up the salaries of furloughed staff.

In its latest report and accounts, the firm sank to a £4.4m pre-tax loss in the year to 26 February 2021 from a £20.5m profit last time. Turnover was down 11.5% to £507m as the firm said some jobs were delayed or cancelled completely because of the pandemic.

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