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| Ballymena firm Patton facing cash pressures | Ballymena firm Patton facing cash pressures |
| (about 1 hour later) | |
| One of Northern Ireland's oldest and best known construction companies, the Patton Group of Ballymena, has said it is facing cash pressures because of the downturn in construction. | One of Northern Ireland's oldest and best known construction companies, the Patton Group of Ballymena, has said it is facing cash pressures because of the downturn in construction. |
| The company said it was working with its bank to navigate its way through "a very difficult period". | The company said it was working with its bank to navigate its way through "a very difficult period". |
| A family-run firm, Patton's has been in business for the past 100 years. | A family-run firm, Patton's has been in business for the past 100 years. |
| It currently employs 320 staff in various parts of its construction business. | It currently employs 320 staff in various parts of its construction business. |
| This includes house building, fit-out, and construction. | This includes house building, fit-out, and construction. |
| Recently though, like many other construction companies, it has been struggling due to the major problems in the building industry. | Recently though, like many other construction companies, it has been struggling due to the major problems in the building industry. |
| Last year, it made a loss of £7m on a turnover of £140m. | Last year, it made a loss of £7m on a turnover of £140m. |
| In response to inquiries about its financial situation, the company has released a statement saying the business was facing cash pressures as a result of the downturn in construction. | In response to inquiries about its financial situation, the company has released a statement saying the business was facing cash pressures as a result of the downturn in construction. |
| A spokesman said the company has been working with its bank over recent months to seek to navigate its way through what continues to be "a very difficult period". | |
| Those discussions with its bank - believed to be the Northern Bank - are ongoing. | |
| North Antrim MP Ian Paisley said he had met Executive ministers Sammy Wilson and Arlene Foster to discuss the latest news which he described as "heartbreaking". | |
| "These stories which hit honest, decent, salt-of-the-earth folk like the Pattons and those who work for them, hit us all hard," he said. | |
| "There are people in Ballymena tonight who are distraught and saddened that this has happened, but they will fight back and do what they can to try and get out of this problem that has arisen." | |
| John Armstrong of the Construction Employers Federation said it was "sad news". | |
| He said he believed Stormont ministers should invest further money in "capital infrastructure projects" to help the construction sector. | |
| He said construction output had dropped by £1bn in Northern Ireland over the past five years, with the loss of thousands of jobs. |