Northern Ireland

Lagan Construction Group £45m in debt

Builders Image copyright PA
Image caption Lagan Construction Group can trace its origins back more than 50 years

A leading Belfast construction company which collapsed in February has liabilities of more than £40m.

Lagan Construction Group Limited has been unable to continue trading on existing contracts, like the new Ulster University campus.

Papers filed at Companies House show £21m is owed to other businesses.

Along with connected firms, it is also "jointly and severely liable" to Danske Bank for £24m.

About 200 jobs were lost when four companies within the group went into administration.

It cited delays and disputes involving several projects.

Administrators KPMG estimate the group has assets of £21m, which they are seeking to sell.

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