Donegal-based builders James Likely has gone into liquidation, resulting in the loss of 75 jobs.

The Ballyshannon firm is one of the county's largest contractors. The jobs will be lost with immediate effect, with many other sub-contractor jobs also affected.

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Company director James Likely assured workers the liquidator would "address their entitlements" over the next few weeks.

Mr Likely said the firm had been damaged by its proximity to the border, coupled with the economic downturn and the procedures involved in public contracts.

Enterprise Minister Mary Coughlan, who is the local TD, said it had been an extremely difficult day for the employees and the Likely family who had built up a "well-known and highly regarded brand".

(PR/JM)