The UK construction firm McGrath Bros (Engineering) Group Ltd has gone into liquidation – 171 jobs have been lost as a result.
The Lisburn-based company, once a market leader in the supply of structural and architectural steel metalwork projects, has ceased trading, along with sister business Construction Architectural Metalwork Limited.
The construction firm, founded in 1981, has four operational sites in Northern Ireland, London, Birmingham and South East England.
One of the most notable projects the firm has worked on includes the London Olympics Aquatics Centre.
The firm cited difficult trading conditions in the manufacturing and construction sectors as the reason for appointing an administrator.
Joint managing director Brian McGrath said: “It is with deep regret that the directors and Founders of McGrath Bros (Engineering) Group Ltd have had to make this difficult decision.
“Trading conditions in the manufacturing and construction sectors have had a severe impact on our business. Legacy contracts taken on during the recession have also taken their toll on main contractors and specialist sub-contractors alike, all linking to underpayments of completed works and disputed final accounts.
“We have explored all possible options to continue operations and remain in business. Sadly, despite our efforts, we have been unable to find a positive outcome. We know this will be a very difficult time for our staff, many of who have given years of loyal service to the company.
“It is our hope that once appointed, the administrator will secure a buyer for McGrath Bros (Engineering) Group Ltd and that as many jobs as possible will be saved.”