Northern Ireland

Waste firm Skipway sold in £786K deal

A west Belfast waste management company has been sold after its parent firm went into administration.

Skipway, which employs 20 people, was sold for £786,000. It is not clear who the new owners are.

It was owned by O'Neill Contracts Ltd which into administration in February.

O'Neill Contracts also had a civil engineering division, which has been shut down with the loss of 46 jobs.

The administrators, KPMG, are now planning to sell seven properties which were owned by the company.

These are a mix of houses and industrial sites in west Belfast and Dunmurry.

The company had been trading since 2004 but was hit by the downturn in the construction industry.

In total the company owes it creditors about £3.5m, the majority of which is due to banks.

The biggest single creditor is Bank of Ireland which is owed £1.25m.

Smaller unsecured creditors are owed a total of £1.3m. The largest of these is the Magherafelt quarrying and construction firm FP McCann, which is owed £395,000.

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