Directors of ACG North, a division of Artisan Construction Group, have placed the company into voluntary liquidation.

Bennett Verby has been appointed as liquidator. The directors said that the proposed liquidation of ACG North did not impact upon any of the other businesses operating in the Artisan Construction Group or the group’s construction capacity.

One of ACG North’s projects is the development of 96 flats at Liverpool’s Kings Dock waterfront arena and conference site. The entire waterfront area regeneration is being promoted jointly by the Northwest Regional Development Agency, English Partnerships, Liverpool Vision and Liverpool City Council.

Concerns have been raised by local MPs about whether the scheme will now be completed.

Paul Curran, newly appointed managing director of ACG North, said: ‘Substantial funds have been injected into ACG North Ltd in an attempt to trade it out of its problems but having taken expert advice and to protect our creditors we took the decision to put it into liquidation. This situation has not arisen because of the economic downturn but because of a legacy of poor management decisions by personnel who have now left the company.’