Alliance South Antrim representatives David Ford MLA, Councillor Neil Kelly and Councillor Alan Lawther have expressed their sadness following the announcement that building firm Mivan has ceased trading.
A further 144 employees have been made redundant, after 98 employees were let go last week.
On Friday, Mr Ford led an Alliance delegation to meet with administrators, aiming to ensure all possible support was being given to workers at this time.
“I am deeply saddened by the announcement that Mivan has ceased trading. This is devastating news for the workers and their families,” Mr Ford said.
He added: “The important thing now is for agencies like InvestNI to work with businesses that would seek to employ these skilled workers – which is the reason Alliance met with administrators last week.”
Councillor Neil Kelly said: “This announcement will be a big blow to the local area. However, I was heartened by the work to help those made redundant last week to employment. I hope that those made redundant on Monday will receive similar support.
“While redundancy is always tough to deal with, it was reassuring to hear from Deloitte that support for employees is being made available – including help with welfare applications and assistance is looking for other jobs.”
Councillor Alan Lawther added: “This is terrible news for the local economy. Mivan is such a well-known and respected company that has worked on the global stage. I hope that somebody will be able to come along and re-employ the workers.”