Receivers 'confident' of purchase

Employees on the company's sites have been laid off temporarily

Receivers brought in at a major Cornwall construction company say they are confident a buyer will be found.

Lark Construction, based in Redruth, builds the majority of affordable homes in the county.

Receivers Grant Thornton were called in on Thursday and the 95-strong workforce could now face redundancy.

An insolvency practitioner working on the receivership, Nigel Morrison, said negotiations were taking place to try and ensure existing contracts were met.

Work stopped

"The company is working on about 10 sites at the moment - four of which have the majority of the activity and work going on," he said.

"Our job at the moment is to investigate whether we can continue to work on those sites with the co-operation of the customers.

"The employees who worked on those sites have been laid off temporarily while we gather further information, with a view to coming back to them in a day or so."

Lark Construction has been operating for 32 years, but it has experienced cash flow problems following a rise in the price of materials.