The contractor working on the controversial major roadwork scheme around Liverpool Lime Street station has fallen into administration.
NMCN plc failed to sign off its 2020 accounts and secure a re-financing of the business, and has subsequently entered administration, with officials from Grant Thornton having been appointed.
On Monday, Liverpool Council it was "seeking clarification" on next steps, .
Nottinghamshire-headquartered NMCN is the principle contractor behind the multi-million pound, controversial redevelopment of the Lime Street and St George's area - perhaps the most iconic gateway into the city of Liverpool.
The scheme is part of the wider - and often contentious - City Centre Connectivity Scheme, which is already running significantly over budget and has led to a number of political rows.
Today's news will be a huge blow to the city council and the Echo reported that it could add months on to the Lime Street work programme.
The council tweeted last week to say that the work, which involves reducing Lime Street to a single lane of traffic in each direction and creating more public space - had entered into its final phase.
Don't miss a thing - sign up for your free North West newsletter - and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more - and the news as it breaks - .
The hope was that the long-running scheme, which has caused plenty of disruption in the city centre, would be completed by mid December.
While its not known exactly what the news of NMCN's collapse will mean for the project, it seems likely to at least push that date back into 2022.
A spokesperson for Liverpool City Council said: “We have been made aware that NMCN may have unfortunately entered into administration.
"Officers have been tasked with securing Lime Street and making it safe, whilst we await formal confirmation. The council will be seeking clarification on the matter to inform our next steps.”
NMCN confirmed today that it would be appointing Grant Thornton as administrator.
In a statement, it said: "NMCN today announces that the board of the company, having taken advice, has concluded that the company is no longer able to continue trading as a going concern.”
“The board of NMCN wishes to thank all of its shareholders, customers and suppliers for their support over the years and particularly Svella and those who had intended to participate in the equity subscription that formed part of the Proposed Transaction, which has had to be cancelled.”
