Fife has been dealt another jobs blow with 50 redundancies announced at Havelock Europa in Kirkcaldy.
The interior refurbishment firm, which serves sectors including education, health and retail, has slashed 10% of its workforce after running into debts of £3.1 million.
Havelock is also selling off its Teacherboards and Sundeala Limited subsidiaries for a total of £1.358 million.
After taking over in May, chief executive David Ritchie called for a review of the business.
Mr Ritchie said: “Our customer survey and review of the business demonstrates that these changes are necessary. We are rebasing the business to reflect the more competitive market place.
“No decision to reduce jobs is ever taken lightly, and we will do everything possible to support those colleagues affected.
“I am confident that the sale of our non-core business brings more focus to the group as a whole. The simplified business model will enable us to maximise the customer experience and allow us to continue to diversify our customer base and achieve future growth.”
The company is looking to make annual savings of £3 million.
It has entered a period of consultation with the workforce.
It is understood many of those affected by the redundancies are based at the Kirkcaldy headquarters.
Teacherboards is an educational supplies business that manufactures, procures and distributes display boards, presentation equipment and other related products. It is based in Skipton, Yorkshire, and was acquired by Havelock in 2004.
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