Talks between troubled civil engineering group Imtech and its financiers have failed, the Gouda-based company said in a short statement on Monday.

In the statement, the company said it had reached no agreement with its financiers and is considering ‘options to preserve as much of the group as possible’.

Last week, Imtech’s German operating company – responsible for some 20% of group turnover –  was declared bankrupt.

The company said it will update the market as soon as possible if and when further decisions are made.

The Dutch company, which has a workforce of 22,000 around the globe, needs to find at least €75m in the short term.

Imtech was founded 150 years ago and was once a star performer on the Amsterdam stock exchange. Last Thursday, its share price plunged 64%.