LONG established building firm Dixons Contractors in Dunloy has called in the administrators, threatening the future of its 88 staff.
The company works across three key divisions - Dixons Construction, Dixons Homes and Dixons Facades - and has been involved in a number of prestige contracts across Britain and Ireland.
Among them, it built and fitted-out the main hospitality building including 11 corporate boxes and two large function suites at Down Royal.
Dixons has been a major employer and contributor to the area since 1979, and the news has been met with "shock and disappointment" the area's MLA Philip McGuigan told the Irish News.
“My thoughts are with the workforce, who will obviously feel this terrible blow the greatest,” he said.
Administrators Andrew Dolliver and Luke Charleton of EY say they are "currently conducting a review of the business".
Dixons had experienced significant growth despite the fall of the pound and toughening market conditions following the Brexit vote.
In its accounts for the year to March 31 last year it reported sales of £26.2 million, though it swung from a profits of £74,000 in 2017 to a loss of £480,000.
However, the accounts still revealed that the company had equity of more than £1 million.
In a strategic report accompanying the results, Dixons' directors said it had enjoyed a positive first six months of its new trading year, which would have taken it up to last September, and that they would continue to "seek every opportunity" to increase its profitable turnover.
The company was founded by Daniel Dixon senior and is now run by Daniel junior as chief execuitve, along with Declan McKendry as managing director.
