Hundreds lose their jobs as NAMA closes Galway sites

BY ENDA CUNNINGHAM

Around 300 sub-contractors working on four separate building projects in NUI Galway have lost their jobs after the sites were ‘shut down’ by NAMA.

The Sentinel understands that the workers are owed wages totalling hundreds of thousands of euro, while many are unable to recover expensive plant and tools which were left on-site.

The workers have been left ‘in limbo’, as they await the outcome of urgent talks between NUIG management and the receiver.There are fears it will be months before work starts back on site – a decision will have to be made by the receiver on whether the projects will be finished out by McNamara Construction, or if college authorities will have to seek another company to finish the work.

A source told the Sentinel: “There are many parties involved, and there are a lot of logistics and legalities involved in how you would move forward from this.”

The shock news that the National Assets Management Agency had appointed a receiver to Michael McNamara Construction was given to workers on Thursday night.

It comes as yet another major blow to employment in the city, where almost 12,000 people are on the Live Register.

Unlike a liquidation, a receivership allows a company to continue trading – the taxpayer now effectively owns McNamara Construction, while the receiver is expected to advertise the company for sale this week.

The four NUIG building sites – where projects costs have a combined total of more than €50 million – were ‘locked up’ by agents working on behalf of receiver Declan Taite of Farrell Grant Sparks.