CONSTRUCTION work on a ?20m Co Monaghan shopping centre and housing development has ground to a halt due to cashflow problems.
In recent days all machinery and plant with the exception of two large cranes on the McEnaney Construction site on the Old Ardee Road in Carrickmacross have been removed.
On completion, the project was expected to create hundreds of local jobs, and 30 construction staff had been employed on site.
Last night McEnaney Construction director Sean McEnaney confirmed the firm was having problems with the Carrickmacross project, which led to the halt.
"There are cashflow problems at the moment which we are attempting to address. We are trying to rectify the situation as quick as we can, so that the Carrick job can be up an running again."
However, it is not known when work will re-commence on the massive construction project.
Mr McEnaney confirmed his firm is engaged in a restructuring process.
It is understood that the company may be seeking a buyer for either the unfinished Carrickmacross site or for another such site in neighbouring Dundalk.
The firm is building industrial warehousing and offices on a huge 92-acre site on the Armagh Road, Dundalk.
Mr McEneaney refused to comment on any site sale negotiations.
In recent months McEneaney Developments submitted a revised plan to Carrickmacross Town Council after the company managed to acquire a number of additional properties adjacent to its original Ardee Road site.
Phase 1 of the Carrick project, consisting of 19 townhouses and 14 apartments, was expected to be completed in July or August of this year.
Phase 2 of the project was to comprise a three-storey shopping complex with 25 shopping units and an overall gross floor area of 17,470 sqm.
This was to include an anchor store of 6775 sq.m as well as an off-licence and ancillary staff accommodation of 327 sq.m at ground and first floor level in the plans.
Other facilities were to include offices, a medical centre and a restaurant as well as parking facilities for several hundred cars.