By Caoimhe Hegarty

300 jobs are at risk after it was announced on Friday that Dungiven-based firm KPL Contracts had gone into administration, as first reported in the County Derry Post.

The utilities firm announced on Friday that despite attempts to decrease debt and restructure the company, the firm had ‘sought protection from administration.’

KPL is one of Northern Ireland’s leading utility firms, specialising in telecoms, electricity, water and sewage management.

In its last accounts, the company recorded a loss of £6.2 million.

Employees were called to meetings on Friday afternoon, where is understood that Managing Director Kevin Lynch confirmed that the company had gone into administration.

One employee who attended the meetings declined to shed any light on what the future holds for the company.

“It is a sad day. Bad news for everyone,” the employee said.

It is believed that many of KPL’s employees had not been working since Monday, with local councillor Sean McGlinchey saying that many sub-contractors had contacted him claiming that the company owed them money. 

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