Administrators have been appointed to KPL Contracts, a leading utilities specialist in Northern Ireland that employs 200 people and a significant number of sub-contractors.

The Dungiven-headquartered company is responsible for providing a range of services, including emergency response support, to key utility companies, including NI Water, NIE, BT and wind farm operations.

The company, which was founded by Kevin Lynch, had been trading in Northern Ireland for 20 years.

Yesterday Mr Lynch, managing director of KPL, said it had been in discussions with its lender for some time to “protect the core contracting business”.

'Cash flow pressure'
He said: "Despite a restructure of the company's property debt before Christmas, acute cash flow pressure has persisted."

He said it was “with much regret” that it had “sought the protection of administration”.

Mr Lynch had spent the last three decades building his business.

He got his first start from a “humble beginning” after he sold his car in 1983 to raise the capital to buy his first digger and initially began as a sole sub-contractor.

The joint administrators appointed to KPL Contracts, Stephen Cave and Matthew Hammond from PwC, said their priority now is to “determine the company’s precise financial position and assess future options”.