More than 300 people have been made redundant after Tyneside construction company Tolent was put into administration.
Tolent - which is one of the region’s largest construction firms - closed sites on Friday and sent staff home. It had been trying to secure its future but now it has been confirmed that it has gone into administration with 313 jobs lost. A further 91 workers have been retained at the firm while administrators try to save it.
The company has been involved in a number of high profile construction schemes in the region in recent years, including the Hadrian’s Tower project in Newcastle. But big losses on the £84.5m Milburngate development in Durham have hit the firm and now business advisory group Interpath has confirmed that a team has been appointed after the firm tumbled into financial difficulties.
