Newport council says it will "determine the next steps" for major restoration work on the Transporter Bridge after the project's main contractor fell into administration.
It has been reported that administrators are urgently seeking a buyer for Cleveland Bridge UK, the steelworks contractor delivering the multi-million restoration of the Transporter Bridge in Newport.
Martyn Pullin, Partner at FRP, the company's administrators, has told the Construction Inquirer that the business will be wound up unless "significant investment" is found.
Cleveland Bridge was awarded the original contract to build the Transporter Bridge back in 1902, and earlier this year said it was "exceptionally proud" to return for the restoration project.
In January it was announced that the £11.9m project, which is being delivered in conjunction with Newport City Council and the National Heritage Lottery Fund, would go ahead after the Welsh Government agreed to provide a £1.5 million funding shortfall as part of the latest Budget.
Newport City Council is aiming to make the 114-year-old bridge, one of only six functioning transporter bridges in the world, a major tourist attraction.
It is not known how the latest news will affect the ongoing work at the bridge. In a statement following the announcement, Newport council said it would "determine the next steps" for the project along with its partners Newport Norse.
"The council is aware that Cleveland Bridge UK, the appointed contractor for the Transporter Bridge restoration works, has entered administration," a spokesperson said.
"Working with our partners Newport Norse, we will determine the next steps for the project and provide further updates in due course."
An £8.75m National Lottery fund grant was given towards the project in January and the plans will include repair-work, structure preservation and a new visitor centre.
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When finished, the makeover is forecast to attract more than 46,000 visitors each year with opportunities for educational visits, guided walks and climbing challenges as well as plans to use the bridge cafe and facilities to host meetings, weddings and community events.
Cleveland Bridge, which was established in 1877, employs 221 staff at its headquarters in Darlington and an engineering site in Newport. The company was contacted for comment.
