Administrators have confirmed that Mallusk-based construction firm, T&A Kernoghan, has ceased operations across the UK and all staff have been made redundant.
A statement from administrators BDO said: “Michael Jennings and Brian Murphy of BDO Northern Ireland have been appointed as Joint Administrators over T&A Kernoghan Limited by the company’s secured lenders on April 27.
“A winding up petition had been presented against the company by one of its creditors and this has subsequently been supported by a number of other creditors. Together, with the directors notifying the secured lender of the insolvency of a connected company within the group, they subsequently invited the secured lender to appoint administrators to the company.
“Following our appointment, it is with regret that due to the extent of the company’s financial difficulties, the Joint Administrators have been required to make all staff redundant and cease operations across the various building sites throughout the UK.
“The administrators and their staff will be responsible for maximising value for the company’s stakeholders through the realisation of the remaining assets of the company.”
It is understood that around 50 people were employed at the firm.
Commenting on the announcement, South Antrim UUP Assembly election candidate, Paul Michael said: “This is terrible news. Construction has seen difficult times over the last number of years and unfortunately this will probably not be the last case.
“Any news of job losses is terrible and this announcement will affect the staff who have families to support and mortgages to pay, as well as all those who may have contracts with the company.
“My thoughts are with the employees and their families at this time. I would be very keen to hear what plans the Minister for Enterprise, Trade and Investment has for the future. If there is any way of retrieving jobs then it must be directed through to this long established company.”