A major building contractors on Tyneside is poised to enter administration, though there is hope that jobs can be saved.
Staff at Wallsend-based Turney Wylde have been told to continue work despite the threat of administration at the firm.
Members of construction trade union UCATT say they have been told the company is preparing to enter administration and to continue going to work as normal.
The last published accounts for the firm in 2013 show it made pre-tax profit of £132,807 from turnover of £5.7m.
The Journal has unsuccessfully attempted to contact Turney Wylde and it remains unclear what may have triggered the reported administration.
Denis Doody, regional secretary for UCATT Northern, said: “Our members have been in contact to say that the company is preparing to go into administration but no administrators have yet been appointed. The workforce have been told to continue to work normally.
“UCATT is attempting to contact the company to find out what is happening and if administrators are appointed we will try to meet with them to find out their proposals for the company.”
He added: “If our members are eventually made redundant UCATT will ensure that they receive every penny they are entitled to as the company will have failed to inform and consult them before laying them off.”
In early 2014 Turney Wylde said it was on track to almost double turnover to £15m and create eight new jobs on the back of several contract wins.
At the time managing director Ken Parkin said: “These new contracts are great wins for the company, cementing our position as a key player in the construction sector in the region and providing an ongoing pipeline of work for the next five years.”
Established in 1967 as a family company, Turney Wylde has since focused on specialist contracting work.
Recent work has included a five-year project to upgrade residential properties for Ashington-based housing association Bernicia, green agenda work for British Gas and construction work with Newcastle University.