50 jobs put at risk as TAL goes into administration
Lisburn construction firm TAL has entered administration, putting up to 50 jobs in danger. The building company employs around 50 staff directly, as well as working with other subcontractors.
Administrator James Kennedy, who was appointed to TAL Ltd on Friday, said workers were being kept on while negotiations take place between the company and its customers. However, production has stopped on a number of schemes.
In its latest set of accounts, the company saw its turnover increase to £21.4m in the year to March 31, 2016 - an increase on the £20.1m recorded during the previous 12 months.
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 pro-actively 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."
TAL posted pre-tax profits of £11,145 in its latest accounts. A year earlier it posted profits of £245,676.
In its last strategic report, the business said: "The directors consider turnover, cost containment and margin as key indicators of performance in the business, and will continue to focus on this going forward.
"The economic environment in which the group operates continues to be challenging.
"However the ongoing strategy of the business is to continue to target profitable contracts, maintain turnover and increase profit margins through cost containment."
The Lisburn-based construction firm has been involved in several large public schemes in the past year.
Among its projects, it recently completed building work on two new sports pavilions for Belfast City Council.