A devon construction firm will be formally placed in liquidation at the end of the month after attempts to rescue it failed.Web Construction, of Ebford, near Exeter, went into administration in January following a difficult year's trading brought on by the global credit crunch.

Most of the 50 staff were laid off although a skeleton workforce remained to complete five profitable contracts.

Business recovery firm Kirk Hills Chartered Accountants was appointed joint administrator but failed to find a buyer. At a creditors' meeting this week, it was decided to approve the company going into liquidation.



David Kirk, joint administrator, said: "The remaining employees will stay on and complete the contracts which should be finished by the end of this month.

"It was worth doing as we have made some good money and this will make sure the creditors receive an enhanced dividend.

"I have been very impressed with the employees, some of whom had worked for the company for 25 years. They knew they were going to lose their jobs at the end of the contracts but have worked hard and kept the customers of Web happy."

The company will go into liquidation once trading ceases later this month.



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