Lagan Construction Group has said that four of its 30 businesses are to be put into administration but its piling operations – FK Lowry Piling and Dew Piling – are not affected by the decision.
Chairman Michael Lagan said that delays to new project starts, contractual disputes and issues with a joint venture partner led to Lagan Construction Group Holdings, Lagan Construction Group, Lagan Building Contractors and Lagan Water being placed in administration.
“It is with great sadness and reluctance that we have had to take this course of action,” he said.
“We have had long standing relationships with many of subcontractors and suppliers.
“We hope that the process of administration will be smooth and that disruption to both projects and jobs will be minimal.”
The two piling operations are among 26 divisions will remain trading.
Lagan has said that the administration places 200 jobs at risk but it hoped some of those roles could be transferred to joint venture partners or relocated within the other 26 divisions.