Flintshire-based construction company David McLean Holdings Ltd has fallen into administration due to the property downturn. There is also speculation that the business was loss-making.
The administrators, Deloitte, are continuing to trade the house-building arm while they seek a buyer.
David McLean Holdings and subsidiaries David McLean Contractors, David McLean Developments and David McLean Homes have filed for administration. The contracting division will be closed.
As well as debt, the company also suffered from irrecoverable work-in-progress from a company that went into liquidation and a fatal accident involving a crane that resulted in work stopping on a site for 26 weeks.
David McLean was established in 1972 and has operations in south Wales, the Midlands, the north west and south west of England. They have 320 employees and a turnover worth £160m.
Nick Edwards, joint administrator, believes that the house-building arm will prove to be attractive to potential buyers with its land and property assets and its good reputation.
