BLACK FRIDAY: 83 jobs go as Kennedy's and Beveridge Engineering closes

It was announced last Friday afternoon that two companies from the Kennedy Group were going into administration.

Fifty-five jobs will be lost at Kennedy Contracts and Concrete Products.

And Coleraine firm R. Beveridge Engineering Ltd, finally closed its doors on the same day - after 13 years in business.

At its height the Wattstown Business Park company employed 28 full-time staff.

The Kennedy Group said the downturn in the construction industry, "coupled with the lack of support available within the banking sector", had left the directors "no option" but to cease operations.

A spokeswoman said on Friday that all other group companies, interests and operations were unaffected by the decision.

"It is with deep regret that we can confirm that J. Kennedy & Co (Contractors) Ltd and Kennedy Concrete Products Ltd has today (October 22) requested their bank to place the companies in administration.

"Unfortunately due to the current economic downturn which has impacted heavily on the construction industry in Northern Ireland, coupled with the lack of support available within the banking sector, the directors of the companies felt they had no option but to cease operations with immediate effect. 55 employees will be directly affected by today's decision."

Speaking about the closure of his business last night, Managing Director, Robert Beveridge said: "I built this company up from nothing 13 years ago having previously worked at Moore's Foundry.

"I've been in this industry for 40 years and I've never known it as bad as it is at the present minute. It's unbelievable, the building industry in this country is a disaster and I don't know what will happen in the future."

Mr Beveridge went on to explain: "We are victim of the economic downturn and a lack of orders. One or two of the companies we worked with have gone down and they have taken us with them.

"In truth we have been struggling for one or two years now and what staff we had were recently on short time. We only employed local lads and girls - many came to me straight from school - and all these skilled jobs have been lost.

"Unfortunately I think it will get a lot worse before it gets better. Banks are tightening up on their overdraughts and companies like us depend on that of support."

Beveridge Engineering specialised in the manufacture of products for the steel industry as well as machine installation and general and electrical engineering services to the production industry and the industrial and commercial sector.

Over the years it gained a reputation for excellence and Mr Beveridge said that during better times his firm carried out contracts for businesses all over Northern Ireland, Manchester, Henley and even providing framework for Harvard University in the United States.

"We kept our staff for as long as we could but at the end of the day we took a decision to close so that they could find work and think of their families.

"Of course I want to thank all the staff and those who helped us or assisted us in any way. It's very sad for everyone."