Up to 50 jobs could be lost now insolvency and business rescue firm Begbies Traynor is running the company after a client failed to pay for work.

APC director Jason Marsh told the Blackpool Gazette: “Despite substantial secured orders for the New Year, APC has been unable to recover from the non-payment of money owed by a major client.

“This is a very distressing time for all of the 50 employees and their families and we’re doing everything we can to assist each and every member of the workforce.

“We have all been shocked and saddened by the closure of the company and with the loss of livelihoods for so many dedicated and skilled workers from the local area.

“Structural steel companies are especially vulnerable at the moment with the depressed state of the construction industry and clients who continue not to pay.”

A number of third parties have expressed an interest in the firm and negotiations are under way to secure the business and its workforce.

The firm has been an integral part of the regeneration of many of the North West’s biggest cities, including providing steel for the revamped Houndshill centre and large schemes in Manchester and Liverpool.