Chase Norton Construction has made 107 of its 123 staff redundant after falling into administration last week.

Administrator Pricewaterhouse Coopers (PwC) said 16 employees remained at the 拢40m-turnover Midlands firm after it became insolvent.

Mark Hopkins, joint administrator and director at PwC, said: 鈥淯nfortunately, owing to the lack of available funds, we have been forced to make a significant number of the employees redundant, keeping on only those who are assisting us in the sale of business and transfer of contracts.鈥�

It is understood that the group鈥檚 housing operation contributed towards the financial problems. A source said PwC had so far received a 鈥済ood level鈥� of interest from companies about its assets.

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