Lisburn building firm TAL Limited has gone into administration, it has been confirmed.
Administrators James B Kennedy and Co. said that TAL had run short of working capital and the aim is to bring them into a situation where they can continue as a concern.
They confirmed that the building firm was placed into administration on Friday and this affects around 50 jobs directly.
Commenting on the news that TAL Limited has entered administration, local MP Sir Jeffrey Donaldson described the announcement as “devastating news” for those employed by the firm.
“This is a clear indicator of the downturn in the construction sector that such a successful company as TAL has now gone into administration,” the DUP man said.
“There is an urgent need for greater support to be provided to the construction industry through the availability of more infrastructure projects that will offer the prospect of building firms having a much more reliable and steady work stream to sustain employment.
“Without this, there is the risk that vital skills will be lost from the building trade here and that is in no one’s interest.”
Construction Employers Federation Managing Director John Armstrong said: “This devastating news is a reminder, if one was needed, of the incredibly difficult circumstances that continue to face many firms within the local construction industry. Workloads are short, margins are tight and industry confidence remains incredibly low.
“Indeed, in light of the ongoing political challenges at Stormont, this news reinforces the need for the Northern Ireland Executive to proactively address the challenges that our industry faces.
“We hope that a positive resolution to TAL’s current administration can be found so that jobs can be saved as well as maintaining existing workloads for subcontractors and suppliers.”
While TAL Limited has gone into administration, TAL Civil Engineering Limited, the civil engineering business, continues to operate as normal.