Derry building contractor Active Maintenance Solutions Ltd has gone into administration, the company has confirmed.
AMS Ltd, which undertakes construction projects in both the public and private sector, employs 24 people in their base at the Springtown Industrial Estate.
The company confirmed Michael Drumm of CavanaghKelly has been appointed as administrator and said the staff at the facility have been informed of the development.
According to the administrator, staff have been told operations will be temporarily suspended whilst he carries out a further review of the options available to the company.
AMS Ltd founder and owner Gerry Donaghy said the announcement comes amid “insurmountable financial challenges” caused by inflationary cost pressures.
“We set up the business in 2000 and in the 22 years since, we have never faced the financial pressures and difficulties that we have experienced of late. It is with such deep regret that we have to make this decision,” he said.
“I want to take this opportunity to thank our dedicated and skilled workforce.
“We recognise the blow this has on all who depend on the company for employment, which will be felt all the more painfully given the time of year.
“Despite our best efforts we find ourselves in this position.”
An update into the company is expected within the next week.
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