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Balfour Beatty is unlikely to recover around 拢19m owed to it by the now defunct Blackpool Airport Limited.

The news comes as the firm announced it was continuing to cut back its UK construction business with 鈥渇urther overhead reductions鈥� and cuts to its regional business to 鈥渞educe both its exposure to smaller contracts and its number of delivery units鈥�.

Balfour Beatty bought the airport (pictured) for 拢14m in 2008 as part of a strategy to diversify the business into owning airports, which it has since abandoned. Blackpool Airport Limited was put into liquidation last month after Balfour Beatty failed to find a buyer for it.

Accounts filed at Companies House revealed the firm is owed around 拢19m by the airport, but only 拢562,193 of assets are expected to be realised from the liquidation.

In total, the airport owes 拢35m to all its creditors, 拢28.6m of which is owed to 鈥済roup companies鈥�, understood to be Balfour Beatty.This is partially offset by 拢9.3m that 鈥済roup companies鈥� owe the firm. A spokesperson said the debt will affect Balfour鈥檚 balance sheet but not its trading performance.

The news comes as Balfour Beatty confirmed it was set to close its office in Barton, Lincolnshire, putting up to 26 jobs at risk.

The office鈥檚 functions will be absorbed into the troubled contactor鈥檚 Leeds office in a bid to cut property overheads.

A Balfour spokesperson said: 鈥淲e have spoken to employees in our Balfour Beatty Barton office, regarding a proposal to close the office and relocate to our existing Leeds office.鈥�

Balfour Beatty also announced last week that the sale of some of its German rail businesses would result in a loss on disposal of 拢25m. At the same time it announced that it had sold its German railroad Tuning Business for 拢1m, a figure it said 鈥渂roadly equated to net asset value鈥�.

Balfour Beatty will keep other parts of its German rail operations before selling them separately.