DGT Steel and Cladding plunges into administration

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DGT Steel and Cladding has become the latest victim of the property downturn after the £32 million-turnover firm plunged into administration.

The Norfolk-based engineering contractor called in administrators from PricewaterhouseCoopers late yesterday afternoon.

Up to 150 jobs are at risk unless PwC can find a buyer for the business.

DGT recently completed work at the Imperial War Museum at Duxford and a new terminal at Luton Airport.

Joint administrator Stephen Oldfield said the firm did not have enough money to continue trading - although staff salaries in September had been paid.

Former contracts director Barry Heyne took over as managing director and chairman in September 2007 after a management buyout.

On announcing the management buyout last year, the firm said it had grown to be the 15th largest of its kind in the UK.

Turnover was expected to increase to £42 million in the next three years.

Last month it was revealed that sub-contractor Chorlton Construction Services is taking DGT to court over an unpaid £83,237.87 legal bill.

DGT appointed Chorlton to provide quantity surveying and commercial management services at various sites, and to provide site management services at projects at Tottenham Hale and Basingstoke, according to a High Court writ.

But a dispute arose after Norwich based DGT failed to pay two invoices sent in February and March, the writ says.