| The latest in a run of construction industry failures is Killingworth-based Norstead, part of the Metnor Group.
Administrators confirmed their appointment to the mechnical and electrical engineering firm this week following speculation about its future after the collapse of sister company Metnor Construction.
Norstead, which also has a Berkshire base, had worked with some high profile customers including Ikea, John Lewis and The British Museum and had only last year hailed growth.
But insolvency specialists at FRP said the firm had seen its profit margins squeezed amid widespread cost inflation. Despite attempts to find a buyer, the business will now be broken up and all 52 staff have been made redundant.
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