Wed, 11 Jan 2017 | ADMINISTRATION
A Northern Ireland building firm has collapsed, while the appointed administrators start negotiations to try and secure its future.
TAL Limited, based in Lisburn, County Antrim, had an annual turnover of around £20 million and employs 50 staff as well as sub-contractors.
The company, established in 1981 and which operates in the public and private sectors, ran short of working capital, administrator James Kennedy said.
In its latest accounts TAL warned it was facing cost pressures, saying the economic environment was “challenging”.
TAL has worked on significant building projects and recently landed a £1.15 million contract to build a new Macmillan Cancer Information and Support Centre in Derry.
Administrators said it was hoped jobs could be saved at the business.
John Armstrong, managing director of the Construction Employers Federation, said TAL’s administration was “devastating”.
“It is a reminder, if one was needed, of the incredibly difficult circumstances that continue to face many firms within the local construction industry,” he said.
“Workloads are short, margins are tight and industry confidence remains incredibly low.
“Indeed, in light of the ongoing political challenges at Stormont, this news reinforces the need for the Northern Ireland Executive to pro-actively address the challenges that our industry faces.
“We hope that a positive resolution to TAL Limited's current administration can be found so that jobs can be saved as well as maintaining existing workloads for subcontractors and suppliers.”
Contact TAL's administrators here
TAL Civil Engineering Limited, a separate civil engineering business, continues to operate as normal.
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