Lisburn-based McGrath Bros (Engineering) Group Ltd has announced it will cease trading today (22 April), resulting in the loss of 171 jobs.
It’s sister company, Construction Architectural Metalwork Limited, will also cease trading, and the jobs lost will be across its sites in Northern Ireland, London, SE England and Birmingham.
A Notice of Intention to appoint an Administrator has been lodged in court today in respect of McGrath Bros (Engineering) Group Ltd.
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.
“It is our hope that once appointed, the Administrator will secure a buyer for McGrath Bros (Engineering) Group Ltd and that as many jobs as possible will be saved.”