Social housing maintenance firm, Connaught, is on the verge of administration after it suspended its shares. The move followed a profit warning in June that the company was in severe financial trouble following public spending cuts that would hit its revenue stream by £80m. Shadow housing minister, John Healey, said: ‘Connaught is the first private sector casualty of the Government's public spending cuts. ‘It's a sign of trouble ahead for Britain's construction industry as new homes and badly-needed refurbishment plans are dropped.'