Strabane building firm goes bust

Ulster Bank branch logo
Image caption Ulster Bank

A Strabane building and development company has been placed into administration.

B & D Construction, which traded from the Dublin Road industrial estate, had been in business for around 30 years.

The firm worked mainly as a contractor but had also moved into housing development with a number of sites in County Tyrone.

It is understood the the administrator was appointed by the Ulster Bank.

The firm's last filed accounts, to the year ending March 2010, showed a small annual loss of around £20,000.

At that time the firm owed its creditors around £6m, but valued its stock of property at around £7m.

The Northern Ireland housing industry is still in a deep recession.

Prices are continuing to fall, demand is low and mortgage banks are imposing tough lending criteria.