Wolves' Molineux rebuild firm is in crisis

The £16 million redevelopment of Wolves' North Bank suffered a hitch today after the firm supplying steel for the project went into administration.

Barrett Steel Buildings Limited was responsible for producing and installing the steelwork for the new Stan Cullis stand, phase one of owner Steve Morgan's £40m rebuild of Molineux.

Contractor Buckingham Group is negotiating with administrators KPMG to buy the remaining steel needed for the scheme from the stricken firm. Bosses have been forced to find another sub-contractor to erect the steel. Building work halted yesterday while they sorted out the problem, but work resumed today.

The lower tier of the new 7,700-seater, two-tier stand has already been completed, while parts of the upper tier and roof have been installed.

Wolves spokesman Matt Grayson said today: "At the moment it is not anticipated this will have any impact on when the work will be completed. It is business as usual as far as we are concerned."

Administrators blamed the demise of Bradford-based Barrett on a reduced order book due to difficult trading conditions.

The company immediately made 23 of its 40 staff redundant.