Trading of shares Rok has been suspended on the FTSE All Share after the building company announced this morning that it would be going into administration.
Rok, which employs around 2,000 people, has already issued two profit warnings this year, citing "serious failings" in its operational and financial controls.
In the first half of the year Rok also reported a loss of £3.8 million after making a profit of six million pounds in the same period the previous year.
In a statement today Rok said, "The board of Rok plc (the "Company") announces that it has resolved to put the Company into administration and to make an application to the Financial Services Authority to suspend the listing and trading of the Company's Ordinary Shares on the Stock Exchange. It is anticipated that the administration and suspension will become effective shortly."
Rok did not indicate whether it had been affected by the recent Comprehensive Spending Review, announced by the government in October. Opponents of the government claim that public sector cuts will affect the private sector, especially in the construction industry which often benefits from large public sector contracts.
Rok said that a further announcement in due course.