Nearly 100 jobs are at risk after one of Cornwall's biggest building companies went into receivership. Receivers Grant Thornton took control of Lark Construction on Thursday.
The company, which employs 95 people and is a major commercial development contractor, is based in Redruth and has been operating for 32 years.
Work on all Lark Construction building sites has now stopped and the receivers will analyse the firm before deciding how to market its potential resale.
Only two years ago Lark Construction predicted a huge turnover for 2002, passing the �12m mark for the first time. Tim Jones, chairman of the Devon and Cornwall Business Council, said the company going into receivership was "very sad news".
"It was a good, traditional construction company which had been producing very good quality work for many years," he said.
"This is very much against the trend. We had heard the company was doing very well out of a number of contracts, so it's a surprise this situation has arisen.
"But I don't think this is going to be a long-term problem. There is a lot of construction work out there and jobs in the market, so we expect the employees to be picked up very quickly."
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There is a lot of construction work and jobs in the market, so we expect the employees to be picked up very quickly 
