150 jobs lost as DCT goes bump
Date published: 31 December 2013
OLDHAM-BASED DCT Civil Engineering has gone into administration with the loss of 150 jobs.
The blow came two days before Christmas when the company - which has its head office in Prospect House, Werneth, announced it was insolvent and ceased trading. It is understood administrators have been appointed.
The Chronicle understands communications were sent out to staff and suppliers to say closure followed four and a half years and £5.5 million worth of litigation.
It cited a disappointing arbitrator’s award as the reason for the company’s collapse, which meant it couldn’t honour “substantial” creditor payments.
The collapse has left creditors out of pocket, and DCT bosses are believed to have expressed their deep sorrow for the distress caused to suppliers who supported them through tough times.
DCT is believed to have been trying to salvage some part of the company as a going concern, in the hope of retaining some jobs and paying something to its creditors.
But the communication it has issued is believed to say the move is now looking unlikely.
The directors of DCT, under the leadership of its managing director, Saddleworth man Peter Greenhalgh, are said to have dedicated most of their working lives and personal finiances to the company.
Privately-owned DCT was formed in 1980, and has a long track record of contracting in the public and private sectors.
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