LISBURN engineering firm McGrath Brothers Group has ceased trading with the loss of 171 jobs.
The company and its sister firm Construction Architectural Metalwork yesterday blaming the hangover from the recession.
And also in Lisburn, century-old housebuilding firm WJ Law has also fallen into administration.
The McGrath group specialised in the manufacture of structural and architectural steel metalwork.
In a statement, the company said it intended to appoint an administrator.
A total of 151 jobs will go in Lisburn with the remainder at sites in London, south-east England and Birmingham.
It is the latest blow for the north's manufacturing sector which has been rocked by announcements outlining hundreds of job losses over recent months.
McGrath Brothers' joint managing director Brian McGrath said: “It is with deep regret that the directors and founders of McGrath Bros (Engineering) Group Ltd have had to make this difficult decision.
“Trading conditions in the manufacturing and construction sectors have had a severe impact on our business. Legacy contracts taken on during the recession have also taken their toll on main contractors and specialist sub-contractors alike, all linking to underpayments of completed works and disputed final accounts.
“We have explored all possible options to continue operations and remain in business. Sadly, despite our efforts, we have been unable to find a positive outcome. We know this will be a very difficult time for our staff, many of who have given years of loyal service to the company."
Offering some hope for the future, Mr McGrath added: "It is our hope that once appointed, the Administrator will secure a buyer for McGrath Bros (Engineering) Group Ltd and that as many jobs as possible will be saved.”
The failure of the company adds further misery onto the north's beleaguered manufacturing sector which has endured a string of large scale job loss announcements in recent month.
Bombardier is planning to cut more than 1,000 from its payroll while tyre maker Michelin and cigarette manufacturer JTI have also announced their intention to pull out of the north.
Meanwhile, administrators have also been appointed to another Lisburn firm housebuilders WJ Law Contracts.
The developer has been operation for more than a century but has run into trouble in recent years.
Last year, in transpired the company had secured £10 million in a new equity partnership arrangement with Co Down property investment and development company Wirefox.
Its parent firm WJ Law & Co entered administration last July as part of a managed process with their only debtor Danske Bank.
Meanwhile, records at Companies House show another firm at the same address in Lisburn, WJ Law Estates was incorporated last October, with David Law and Norman Philpott listed as partners.
WJ Law Contracts were behind many of the north's most highly regarded housing schemes since their inception back in 1903, including the multi award-winning Ballantine Garden Village in Lisburn, which features a mixture of family homes as well as bespoke homes for older people.
The company's work has been recognised by the National House Building Council in their annual awards twice in recent years.
