Construction News

02/11/2011

Alu-Fix Enters Administration

Belfast based aluminium installation company, Alu-Fix has entered into administration with the loss of around 40 jobs.

Stephen Cave and Paul Rooney from PricewaterhouseCoopers have been assigned as joint administrative receivers by the secured lender, which is believed to be Ulster Bank.

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Mr Cave said: “It appears that the company’s funding position has deteriorated markedly over recent weeks, culminating in the company lacking sufficient cashflow to continue trading and this led to our appointment.

“Our immediate objective is to determine the precise financial position and the current status on live contracts. Unfortunately we have had no option but to make the remaining 20 permanent staff in Belfast and 20 permanent staff on GB sites redundant, with immediate effect.”

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