The Frank E. Irish Co., a large Indianapolis mechanical-contracting firm that’s been working on Lucas Oil Stadium, has ceased operations, according to company President John T. Irish.
Irish said the company is striving to find alternative financing in the wake of current lender National City Bank’s move on Friday to shut down the contractor’s operations.
He said company leaders had been downtown talking with potential providers of that financing when they returned to find themselves locked out of their own headquarters.
Irish denied the company’s financial condition warranted National City’s drastic action. “We’ve never had a loss year in our 92 years,” he said.
Though the company holds some of the construction contracts for Lucas Oil Stadium, Irish said he is confident the lock-out will be temporary and won’t delay the project.
“The stadium is fine,” he said. “We’re a victim of circumstances but we’ll work our way out of this.”
A National City spokeswoman was not immediately available for comment.