MORE than 30 jobs are potentially at risk after Maurice Stevenson Limited in Lurgan, one of the north's longest established mechanical installation firms, called in administrator Gerard Gildernew to run the business.
The family-owned company, which has a history stretching back to 1921, is based in the Annesborough industrial estate and currently employs around 33 staff.
In recent years the company has experienced a number of financial challenges following a downturn in the sector, resulting in contractors going into insolvency with consequential bad debts, compounded by increasingly tight margins and the marked reduction in public sector works orders.
The death of company head David Stevenson in 2012 created significant challenges for his widow, whose best efforts to keep the business going could not overcome the toughening market conditions.
The administrator says he will work with the directors in the coming days and week to ascertain if a buyer can be found for the business and thus avoid the company having to close its doors. Staff have been advised of the situation.
Mrs Alison Stevenson said: “It is with the deepest of regret that we find ourselves having to place the company into administration.
"I want to pay a heartfelt tribute to current and former staff who have worked hard and demonstrated immense loyalty to this firm and our family down through the years.”
Expressions of interest in acquiring the company’s business should be communicated to the Administrator’s office in the first instance.
DUP Upper Bann candidate Carla Lockhart said, "This news is deeply regrettable for our business community here in Lurgan. Maurice Stevenson Limited was a long, well established company.
"The family run business gave many local people employment over the years and they too will be saddened by this news. I have spoken many times with the company and will continue to liaise with them on this issue.
"My thoughts are with those currently employed by the Lurgan based company, who are now faced with the prospect of unemployment and for the owners of the company who are going through this difficult time."
