Peter Allen of Deloitte has been appointed administrator at one of Northern Ireland's main construction firms, Mivan (No.1) Ltd, which has collapsed putting almost 300 jobs at risk.

Founded in 1975 by the current chief executive Ivan McCabrey while he was still an engineering student at Queen's University, Belfast, Mivan's past projects include re-roofing the historic Dome of the Rock mosque in Jerusalem, outfitting the interior of the Scottish parliament in Holyrood and refurbishing the QE2 luxury liner. It was the largest general contractor for Euro Disney in Paris and has carried out other theme park development work and cruise liner refits for Disney.

Dr Ivan McCabrey, Mivan chief executive, said that while the global market for specialist construction and fit-out was recovering, competition was intense and pressures on margins and liquidity favoured the biggest international companies. Recent attempts by Mivan to increase its international capacity and competitiveness through consolidation within the specialist construction and fit-out sector had failed .

'Consequently, the directors have been reviewing future options in conjunction with our bankers and professional advisors. It is with regret therefore; that the directors have today sought the protection of administration in order to preserve the future options of the business,' McCabrey said.

The Antrim-based international engineering company employs 289 people and is the main trading company created from a restructuring of the group in 2012.

Peter Allen of Deloitte, said: 'With the support of key stakeholders, including the bank, the business will continue to trade while all options are assessed.'