Flintshire-based m&e contractor PT has announced it has gone into administrative receivership

PT, based on Deeside Industrial Park, Flintshire, slashed its entire 130-strong workforce in February, according to a report in the Daily Post.

What’s left of the company was being handled by administrative receiver PKF.

Workers at the company, which also includes mechanical contractor MA Cooper and CCTV specialist Ryder Security, were called into a crisis meeting and informed that they were being made redundant.

l A recent report from accountant BDO Stoy Hayward has predicted as many as 10 300 construction and property firms could fail in 2009. It said this sector would be the worst hit in the UK economy.