Northamptonshire plant and construction firm Weldon Plant has gone into administration.

The firm, which employs 113 people whose jobs are now at risk, blamed the Royal Bank of Scotland (RBS) who decided to cut its overdraft from £3.15 million to £2.2 million.

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Peter Webb, Chairman of Weldon, said: "During these negotiations our bank has twice made substantial cuts to our facilities without notice and, in our opinion, without justification. This has placed strain upon our cash flow and has delayed payments to suppliers and sub-contractors, many of whom are small sole traders and partnerships."

He said the decision to appoint administrators had not been taken lightly and understands how many individuals and families will be affected.

(CD/GK)