MADRID, Jan 23 (Reuters) - Unlisted Spanish building group DHO said on Friday it had filed for administration for all its businesses, with the exception of its Harinsa Navasfalt unit, located in Navarre, northern Spain.
"With the exception of the Navarre unit, 99 percent of the company has filed for administration," a company spokeswoman said.
In a statement, DHO said its decision to file for administration was the result of the lack of confidence generated by the economic and financial downturn and the serious crisis affecting the construction sector.
A source at the company said DHO's debt was between 300 million and 350 million euros ($390-450 million), and it employed about 1,100.
DHO's administration follows a similar move by unlisted real
estate company Habitat in November, with debts of 2.3 billion
euros, while Spain's biggest property company Martinsa-Fadesa
DHO's shareholders include savings bank Caja Castilla la Mancha, the Navarre company Aricam, businessman Javier Aldaver and property group Avantis. (Reporting by Andres Gonzalez; Writing by Judy MacInnes, editing by Will Waterman)