One of Northern Ireland’s major contractors has gone out of business with the loss of more than 200 jobs.
Workers at County Londonderry based KPL Contracts have been made redundant after what the company called ‘acute cash flow pressures.’ Administrators say they have been unsuccessful in their efforts to save the company.
The firm, which also provided work for scores of sub-contractors, operated mainly in the utilities sector, carrying out projects on behalf of clients like NI Water, Northern Ireland Electricity and BT, but it also ventured into house building.
In a statement joint administrator from PwC, Stephen Cave, commented: “I said on appointment that the first hours would determine the company’s financial position and future options. This included its ability to facilitate and fund the ongoing needs of key customers.
“However, our immediate review concluded that continuing to trade was not commercially viable and it is with regret that I had no alternative but to make all 202 workers redundant with immediate effect.”