A “significant” number of workers at Dundee construction firm Muirfield Contracts are set to lose their jobs after the business formally entered into administration.
Joint administrators Derek Forsyth and David Hunter of Campbell Dallas have been appointed and will now explore all options for the future of the company.
They said the business had collapsed after suffering “unsustainable cash flow problems.”
The company employs approximately 280 staff directly, along with a further 110 labour-only sub-contractors.
Turnover in the most recent financial year was in excess of £47 million.First Minister pledges support for workers Founder says firm’s collapse is “disturbing” VIDEO: Muirfield Contracts staff put on gardening leave as company goes into administration Muirfield Contracts meets to discuss firm’s future“Muirfield Contracts is a household name in Scotland’s construction sector with an excellent reputation for the quality of its client base and projects,” Mr Forsyth said.
“Although the company has a large turnover, it had been suffering from unsustainable cash flow problems and despite best efforts to raise additional funding administration was the only option.
“It is likely that a significant number of employees will be made redundant in the early stages of the administration and they will be advised as soon as possible.
“We recognise that this is a very difficult time for all concerned and will do our utmost to provide as much support as we can.”For more on Muirfield Contracts’ troubles, see Friday’s Courier