Stunned staff were given the bad news on Monday with more than 100 people losing their jobs.

Among them was the new Head of Supply Chain who was only taken on the week before after leaving his previous employer of 13 years.

He wrote on LinkedIn: “Somewhat unbelievably, my employer of just seven days has today gone into administration. Not the best career move I have ever made!”

Reacting to the post one industry colleague said: “Unbelievable, the directors should be ashamed of themselves.

“You don’t just find yourself going bust in a couple of weeks.”

Castleoak was a Cardiff based developer with its own design and build division and offsite manufacturing facility.

Latest accounts filed at Companies House for Castleoak Holdings Ltd show that in the year to March 31 2019 the group made a pre-tax profit of £496,527 from a turnover of £67.2m and employed 152 staff.