Original by Owen Hughes, North Wales Live - https://www.dailypost.co.uk/business/business-news/developer-given-major-grant-build-16047809
GM Jones in Llanrwst has ceased trading with nearly 40 workers made redundant
A developer given a major Welsh Government grant to build its £1.3m HQ has gone into administration with nearly 40 workers made redundant.
GM Jones, in Llanrwst, had been one of the most successful builders in Conwy county - carrying out commercial and public sector schemes across the region.
Three years ago it secured £400,000 from the Wales Economic Fund to build a new headquarters and it then employed more than 100 workers.
But concerns were later raised by Aberconwy AM Janet Finch-Saunders over a delay in the company moving into the new premises and later about the fact they were looking to sub-let part of the large site.
Now Patrick Lannagan and Conrad Pearson from Mazars have been appointed joint administrators of the company.
All of the 39 employees left working at the firm have been made redundant.
AM Mrs Finch-Saunders said: "I am very sorry to learn that GM Jones has appointed administrators.
"Indeed, this is extremely worrying especially when considering that 40 people are going to lose their livelihoods.
"Unfortunately, this announcement has not come as a big surprise because whilst there was some movement in the new offices in Llanrwst, they were a long way off being finished, and almost completely empty.
"Last November, I questioned Ken Skates AM, Minister for Economy and Transport, about the site, and the fact that a section of the headquarters was being advertised for let.
"He advised me that the final instalment of grant was released when the company reported it had achieved capital investment in excess of £1.3m, that all jobs were safeguarded, and that new staff had been recruited.
“Clearly, the Welsh Government have not been monitoring their investment at this site properly, because in addition to the loss of jobs, this announcement means that £400,000 of taxpayers money has been wasted.
“Serious questions do now have to be asked as to why the Welsh Government invested such a significant amount in another undertaking which has failed."
Economy Minister Ken Skates said the Welsh Government would not apologise for supporting Welsh businesses.
Administrator Patrick Lannagan said: "The Company experienced cash-flow difficulties as a result of difficult trading conditions in the construction sector in addition to delays in new projects commencing at the start of the year.
"As a result, the directors took the decision that the company should enter administration.
“The administrators will now proceed with realising the Company’s assets, including the Company’s freehold premises in Llanrwst, Conwy and welcome any interest that may be forthcoming in those.
"The administrators will be writing to all creditors over the next few days with further details of the next steps in the process."
Economy Minister Ken Skates said: “This is extremely disappointing news for GMJ Ltd, its workforce, their families and the wider Welsh construction supply chain.
“My officials are working with the company to ensure they have support available through ReAct, Careers Wales and the Jobcentre Plus schemes for their employees.
"We will look to work with the appointed administrator to do all we can to minimise the impact on the local community and the wider economy andensure maximum potential recovery of any public sector funds provided.
"However, we will not apologise for supporting Welsh businesses particularly at this time of uncertainty caused by UK Government."
It is the latest jobs hit for the region.
On Anglesey REHAU announced plans to close its Amlwch site in January with 104 jobs under threat.
This was followed by the news that Falconer Electricals in Penrhyndeudraeth was going into liquidation - with nearly 60 jobs lost.
This month then saw electrical giant Honeywell announce it was shutting its St Asaph site with 150 jobs at risk.