Struggling civils contractor Roadbridge has ceased trading, with much than 200 employees expected to beryllium laid off, administrators person said.
In a connection from administrators Grant Thornton, the UK concern ceased trading connected Tuesday, 16 March, with “the immense majority” of its 215 unit being made redundant.
The UK concern operated retired of its office successful Welwyn Garden City and had a fig of contracts crossed the UK.
Roadbridge had been undertaking extended civils and earthworks packages connected the HS2 task for the Align associated venture, which consists of Bouygues, Sir Robert McAlpine and VolkerFitzpatrick.
The contractor’s Limerick-based genitor company, Roadbridge Ltd, has besides been placed into receivership, with Grant Thornton handling the affairs of some companies.
Rob Parker, manager of Grant Thornton UK LLP, commented connected behalf of the associated administrators: “Due to the fiscal presumption of the business, unluckily the UK concern has ceased to trade, with the immense bulk of the 215 employees being made redundant connected 16 March 2022.
“The associated administrators and their squad volition present ore their efforts connected supporting employees done the Redundancy Payments Service claims process during this hard time, arsenic good arsenic seeking to maximise realisations from the company’s assets for the payment of the creditors of the company.”
According to the Irish Independent, Roadbridge owes the Bank of Ireland €35m (£29.4m). The institution was founded successful 1967, and with its subsidiaries it employs astir 630 radical successful the UK, Ireland and Sweden.