Small firms struggle in wake of builder’s collapse

SEVERAL Jersey firms are facing an anxious Christmas following the collapse of a construction company which owes hundreds of thousands of pounds.

Colour-01774152_Cropped

SEVERAL Jersey firms are facing an anxious Christmas following the collapse of a construction company which owes hundreds of thousands of pounds.

It is still not clear how much Deerglen owes its creditors, which include many Island firms which have been trading for generations, but estimates now put the figure as high as £1 million.

Last Friday alone, judgments were given in the Royal Court against the company totalling £300,000. They followed judgments worth £35,000 the week before and more are expected today.

The announcement last week that Deerglen had ceased trading with the loss of all jobs has sent shockwaves through an industry already hit hard by the economic slump.

• See Friday's JEP for full report