Almost 100 workers at the troubled Antrim construction company Mivan have been made redundant, according to administrators Deloitte.
The firm, which was responsible for refurbishing the QE2 liner and fitting out the Scottish Parliment, entered administration only last week after a proposed merger with Lagan Group Holdings fell through.
The redundancies will affect 98 posts and will leave Mivan with less than 200 people on its payroll while administrators at Deloitte run the business on a day-to-day basis.
It said it would continue to look for a buyer for the company.
"While we hope to achieve a potential sale of the business, we are reviewing trading on a daily basis and this includes the employment situation," Peter Allen from the business advisory firm said. "Where customers can no longer continue with contracts, the jobs associated with these contracts have, unfortunately, been lost."
South Antrim MP William McCrea said he was hopeful the company could rise again.
"I would hope that the interest which has been shown in the firm will allow the administrators to sell the company as a going concern and that at some point in the future its fortunes could be restored and employment once again increased," he said.
News of the redundancies compound a difficult seven days for the construction company, although there will be relief more staff haven't been laid off.
Last week chief executive of Mivan, Dr Ivan McCabrey, said an increasingly competitive construction and fit out market had taken its toll on what was considered a stalwart Northern Ireland companies.
The company was founded in 1975 by Dr McCabrey while he was still an engineering student at Queen's University Belfast.