A building company that had planned to build thousands of homes in Dublin has been put into administration by Bank of Ireland and Ulster Bank.
Belfast-based Taggart Holdings confirmed that an administrator had been appointed in respect of its operations in Britain and Ireland.
Plans to build thousands of homes on more than 25 sites, many in the greater Dublin area and Hartlepool in the north-east of England, have had to be abandoned.
The firm's directors John and Michael Taggart said the development of schemes in Luxembourg as well as Mullingar and Navan would continue.
The firm, which employed more than 150 people 18 months ago has just 15 on its books.
Michael Taggart described the appointment of an administrator as 'deeply regrettable' and a sign of the seriousness of the crisis now facing the construction and property sectors.
