A building firm working on high-profile building projects across the North has gone into administration after struggling to get funding.
Marcus Worthington and Company, the construction division of Preston-based Marcus Worthington Group, is now in the hands of administrators.
One of the group's funders, Cumberland Building Society, appointed PwC as administrator on Monday afternoon.
Some 130 jobs are affected by the move at the business, which was founded in 1975.
Work will continue on two of Marcus Worthington's high-profile schemes - the 125 Deansgate office development in Manchester and the North Western Halls hotel redevelopment in Liverpool. Both those projects are being financed by an investment fund.
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Other Marcus Worthington projects include a student hall of residence in Lincoln. Last month the project was delayed and workers had left the site amid reports they had not been paid.
Today a statement on behalf of the directors of Marcus Worthington Group said: “It is with deep regret and sadness that an administrator has been appointed to Marcus Worthington and Company Limited, the construction part of our business.
“The current economic uncertainty has led to us struggling to secure additional borrowing from our bank lenders. We have also been unable to attract fresh funding from other lenders because of these testing market conditions.
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“Our primary thought at this time is with our staff. All our employees have been paid up-to-date as of September 30 and we will be supporting those affected in any way we can. We are consulting with our subcontractors and will update them in due course.”
The statement said Hollinwood Homes, the residential division of Marcus Worthington Group, was unaffected by the move - as are sister companies Marcus Worthington Properties and Stonewell Property Company.