ALMOST 300 jobs are under threat after construction firm Rok, which has a large depot in Bolton, went into administration.

Rok surprised the industry as it filed for administration, after months of profit warnings and senior management changes.

The company employs about 3,800 people nationally and the Bolton site in Chorley Road, Fourgates, Westhoughton, has 220 staff across a variety of trades, including managers and office staff.

The news came when the company released a shock statement to the Stock Exchange which said: “The board of Rok Plc announces 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 the administration and suspension will become effective shortly.”

It is not yet clear why the firm has filed for administration after it earlier said it could meet its obligations.

The firm says it will release more information later and is trading normally for the time being.

Mike Jervis, joint administrator and partner at PricewaterhouseCoopers (PwC) said: “In response to changes in market conditions, Rok Plc had taken a number of steps to improve operations and to develop a sustainable and profitable business going forward.

“However, due to difficulties in meeting the company’s financial obligations, the company and certain subsidiaries have been placed into administration to protect the business and assets.

“Our immediate priority is to urgently review the financial position of the company and seek a buyer of the businesses.

“Employees will naturally be concerned about their position, but they will continue to be paid if they attend work and perform their duties as normal.”

Staff at the Westhoughton site are currently working on a number of building projects, including the Westpoint scheme, worth £4 million in Spa Road, Bolton, where 40 affordable flats are being built.

They are also working in Red Lane, Breightmet, to build seven three-bed homes in a £912,000 contract at the former United Reformed Church