Northern Ireland

Tyrone Building firm WJ Dolan Construction in administration

A well-known County Tyrone building firm has been placed into administration.

WJ Dolan Construction (Ireland) Ltd operated from Castlederg but had its registered office in Donegal.

It was for many years the shirt sponsor of the Tyrone senior GAA team.

A related company, Latlorcan Developments, is also in administration.

Latlorcan Developments, a Northern Ireland-registered firm, was responsible for a major housing project in Monaghan town.

The firm's last set of accounts for the year ending April 2010 show that it owed Ulster Bank more than £11m but had assets of less than £6m.

A note in the accounts said that it was dependent on the continuing support of its bankers.

The last accounts for WJ Dolan Construction (Ireland) are for the year ending December 2010.

The firm had assets of 4m euros and liabilities of more than 5.5m euros.

The auditor's report said they were unable to confirm that the firm's work-in-progress was worth 3m euros due to lack of a professional valuation and the state of the property market.

The report also said there was uncertainty as to the continuation of the firm's banking facilities.

The construction sector across Ireland is in a depression as the bursting of a house price bubble continues to take a heavy toll.