Contractor Dunne Group, which was assigned to a number of significant projects, went into administration earlier this week with the loss of 524 jobs.
Tom MacLennan of FRP Advisory was appointed joint administrator on Tuesday. He said the group, which until then had been owned and run by its founder, Gordon Dunne, had overextended itself.
“The business faced substantial trading losses on some contracts, leading to severe cash flow pressures … Rapid expansion led to pressure on working capital and a requirement for significant additional funding that was not available.
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