W J Harte, the Scottish civil engineering contractor, is reported to be on the brink of calling in administrators, according to union representatives.
The Bothwell-based company, which saw its directors leave their positions last week, is reported to have ceased trading and sent many of its workers home while the administration process is begun. The construction union, Ucatt, has said it has been contacted by "a substantial number" of workers who have been sent home.
An unidentified company source appeared to confirm the business's predicament, stating, "We have currently ceased trading and are waiting for the banks to appoint an administrator. There is nothing more to say and a formal statement will be issued shortly."
Harte's difficulties will be a severe blow to the Scottish contractor and construction sector, unless buyers can be found for various parts of the business. The company has a workforce of 700 and an annual turnover of more than £100 million.
The Ucatt regional secretary Harry Frew said, "It's extremely disappointing to hear that WJ Harte is facing such difficulties threatening hundreds of jobs.
"We hope that a buyer can be found and jobs preserved. UCATT is seeking a meeting with the administrators to establish what the future holds for our members."