Fermanagh building firm in administration

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house under construction

A housing firm which a built a series of upmarket developments in County Fermanagh has been placed into administration.

GP Williams, which had its registered office in Belfast, has been operating since 2000.

It also built houses in Bangor, Belfast and Newtownabbey.

The firm's accounts for the year ending December 2009 suggest it owes banks more than £30m. They also showed accumulated losses of almost £3m.

In September, Anglo Irish Bank appointed receivers to properties owned by the firm at Church Street in Irvinestown and Ardvarney Road in Ederney.

Planning files indicate that the Ederney site had planning permission for 45 houses.

The firm's website suggests it currently has houses for sale on developments in Irvinestown, Ballinamallard, Enniskillen, Lisnarick, Castle Caldwell, Bangor and Rubane.

As well as Anglo Irish, the firm also had borrowings from AIB/ First Trust.

The bursting of a house price bubble has had severe economic consequences in Northern Ireland.

A series of builders and developers have gone bust, individuals have been declared bankrupt and thousands of construction jobs have been lost.