Belfast Telegraph

Builder McNamara in receivership

An iconic building firm of the Celtic Tiger years has gone into receivership.

McNamara Construction, which has undertaken flagship work on the Shelbourne Hotel, Sir John Rogerson Quay and Lansdowne Road, shut all its sites on Thursday night.

Construction at a number of public projects such as Letterkenny Hospital and Tallaght IT have fallen victim to the failing business with workers refused entry to the sites and forced to picket at the gates.

Farrell Grant Sparks has taken the company over.

The FGS Partnership confirmed an application for receivership and management was lodged but it refused to give any details of the current financial state of the business.

The company run by Bernard McNamara was involved in key public private partnerships and prestigious private contracts over the last decade.

Mr McNamara moved away from heading the company earlier this year after running into severe personal financial difficulties. It is believed he is more than one billion euro in debt.

He was involved in the 412m euro deal to buy the Irish Glass Bottle site in Ringsend in 2007 which has been clouded by its funding by Anglo-Irish Bank and the role played by Anglo's directors on the board of Dublin Docklands Authority.

Up until late on Thursday the McNamara firm also had sites operating at NUI Galway and Dun Laoghaire. The group's prestigious private work included part of the Point Village in the docklands, the Killanin Stand at Galway racecourse and the Shelbourne.

It also secured many lucrative and high-profile State-financed projects, including hospital projects at St Vincent's Dublin, Tullamore, Letterkenny, social housing in Cork and Dublin, road schemes, third level institutions and the extension of the National Gallery.


From Belfast Telegraph