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Patton staff to attend meetings on firm's future | Patton staff to attend meetings on firm's future |
(about 1 hour later) | |
It is expected staff at the troubled County Antrim construction company, Patton, will hear more details about the future of the firm later on Friday. | It is expected staff at the troubled County Antrim construction company, Patton, will hear more details about the future of the firm later on Friday. |
The Ballymena-based group was placed into administration on Tuesday, 24 hours after the firm publicly admitted it had run into financial difficulties. | The Ballymena-based group was placed into administration on Tuesday, 24 hours after the firm publicly admitted it had run into financial difficulties. |
Currently, 320 staff are employed in Patton's construction business. | Currently, 320 staff are employed in Patton's construction business. |
The administrator has said possible options for the future included the sale of all or parts of the company. | The administrator has said possible options for the future included the sale of all or parts of the company. |
The family-run firm has been in business in Northern Ireland for the past 100 years. | The family-run firm has been in business in Northern Ireland for the past 100 years. |
'Lay-offs' | |
Speaking from outside the company's main office in Ballymena on Friday morning, BBC Northern Ireland's business correspondent, Kevin Magee, said Patton employees had started to arrive for work as normal, but many were "fearful" about losing their jobs. | |
"There's been speculation in several morning newspapers that there could be large scale lay-offs here today. Those stories are based on a source close to the company and, if that is the case, I think there'll be a huge degree of surprise that things here have just moved so quickly," he said. | |
"There has been no confirmation (of job losses) from the administrator Tom Keenan. He hasn't made any comment so far, other than earlier in the week when he said he was looking at all the options for the company, including the sale of all of it or parts of it." | |
The correspondent added: "The implication there is that the company may well be broken up." | |
'Uncertainty' | |
He told BBC Radio Ulster he had spoken briefly to a number of employees, but they were reluctant to talk at length ahead of the meetings. | |
"Obviously the workers are very, very anxious about the future. Administration always brings a huge degree of uncertainty and the staff, 320 of them, are very fearful for their jobs. | |
"I suppose many of them are hoping that at least that uncertainty will come to an end today." |