Fears for future of building group

AUDITORS for Limerick-based international construction group, Chieftain Construction, have indicated there is uncertainty over the future of the group.

Deloitte & Touche made the statement as Chieftain Construction Holdings showed a €6.7m pretax loss to the end of September 2008 after writing down the value of sites and contracts by €7.9m.

The company has bank borrowings totalling €90m and & is reviewing borrowing facilities with its principal bankers to ensure the orderly completion of its current projects.