A construction firm in the North East has fallen into administration, leading to the immediate loss of 313 jobs.
Tolent, which is based in Gateshead, has appointed Interpath to handle its collapse after facing rising costs for raw materials, as well as supply chain disruption and labour shortages.
The company also faced challenges with a major contract in Durham. Tolent’s working capital came under pressure when its £85.5m Milburngate development contract became loss-making.
