170 jobs lost after steel firm appoints administrators
More than 170 jobs have been lost after a steel construction company moved to appoint an administrator.
Lisburn-based McGrath Bros (Engineering) Group Ltd and its sister company, Construction Architectural Metalwork Limited, ceased trading on Friday.
The employer, which specialised in the manufacture of structural and architectural steel metalwork, had staff in sites in Northern Ireland, London, Birmingham and the south-east of England. Of the 171 jobs lost, 121 were Lisburn-based.
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."
Mr McGrath said he hoped that an administrator could find a buyer for the company and that some jobs could be saved.