More than a dozen jobs have been lost following the collapse of an Angus ATM manufacturer that once had more than 70 staff.
Arbroath-based ATMRC was established in 2007 as ATM Refurbishment Centre.
The family-run business rebranded to ATMRC two years after its launch, and moved to its current base at Kings works on Sir William Smith Road in 2017.
However, the business has been on the decline for a number of years. It ceased trading on Friday.
Staff were initially told it was in danger at a meeting last month. The 13 workers were then informed on Tuesday they were being made redundant.
A ‘sad day’ for family-run business
Managing director Andy Edgar said it was a “sad day” for the family-run Arbroath business.
Mr Edgar said: “It has not been easy at all.
“We’re very disappointed. I feel very sad for the staff – some of them have worked with us for a number of years.
“It’s a massive blow to them as well.”
Mr Edgar said the business was badly affected by a reduction in the fees paid every time a retailer processes a card payment.
When that came into effect in 2018, the business was forced to make some staff redundant.
Mr Edgar, who joined the firm in 2010, added: “We refurbished ATMs and sold them to independent deployers, but that dried up after the interchange fees were reduced.
“That reduced the volume of product we were supplying. We used to do 50 machines a week, but we’ve been doing 50 machines a year since that.”
The ‘final nail’ for Arbroath firm ATMRC
The business was then hit by Brexit and the Covid pandemic.
“We’ve been battling for quite a while trying to diversify and selling a bit more into Europe. Brexit didn’t help and neither did Covid.
“We’ve tried for a number of years to save the business, but things just got too much.”
A huge rise in energy costs was the final nail in the coffin for the firm, Mr Edgar said.
“We went from £2,600 a month to £12,500 a month – that happened last summer.
“It had been one blow after another but that was the final nail in the coffin.”
FA Simms and Partners has been appointed liquidators. Two staff have been kept on to help with the liquidation process.
The Courier has asked the liquidators to comment.
