THE proposed redevelopment of Casement Park is facing a further setback after one of the lead contractors filed a notice of intention to appoint administrators.
Buckingham Group announced they had stopped trading amid "rapidly escalating contract losses and a sharp reduction in liquidity".
The company said that it was exploring options to sell parts or all of the business after filing a notice of intention to appoint administrators, but added that they "emphasise the company is currently not in administration".
Main contractors Heron Brothers Limited and Buckingham Group Contracting Limited were awarded the contract for the design and construction of the new stadium at Casement Park.
The redeveloped stadium, with a 34,500 capacity, could cost up to £168m.
Ulster GAA said they were "monitoring" the situation.
A spokesperson said: "Ulster GAA is aware of the news that the Buckingham Group Contracting Ltd (BGC Ltd) Directors, have filed a notice of intention to appoint administrators to the company to protect their business, whilst they explore a sale of all or part of the company in the period ahead.
"BGC Ltd are one of the joint venture partners involved in the Casement Park works contract. It is important to clarify that the company is not in administration and Ulster GAA will continue to monitor the situation closely assessing what affect (if any) this may have on the future delivery of our project.
"We remain fully focused on work commencing on site early next year."
