Around 60 jobs are at risk after Manchester-based civils firm GPL Group went into administration.
FRP Advisory has been appointed as the administrator pf the £26m-turnover business, which provides specialist engineering services within the rail, utilities and building sectors.
The firm’s 60 staff remain employed but all jobs are at risk, the administrator confirmed.
GPL had experienced significant cashflow difficulties in recent months due to ongoing delays with both new and current contracts.
Also included in the administration are GPL’s subsidiaries GPL Civil Engineering, Galvac Limited, GPL Utilities Limited, GPL Plant Limited and GPL Special Projects Limited.
FRP Advisory partner Ben Woolrych said: “Continued issues and delays with contracts meant that it became financially unviable for GPL Group to continue trading.
“Our focus now is to find a suitable buyer for the business, while working closely with the directors to ensure that we achieve the best possible outcome for everyone involved.”
In its last accounts, the company posted losses of £1.2m for the year to 30 March 2017, compared with a profit of £1.1m in the previous 12 months.