Construction firm Stewart and Shields has appointed liquidators.
The family founded and managed business, based in Helensburgh, has been operating for more than 60 years.
The company provides building services across Scotland, including social housing, local authority work, commercial construction and both private and residential contracts.
Despite the challenges of the pandemic, Stewart and Shields managed to build a strong order book, with significant projects in the pipeline in Scotland. Despite this, in recent times the company experienced cashflow challenges as a result of contract delays, the rising cost of raw materials and skills shortages.
A statement joint provisional liquidators Blair Nimmo and Alistair McAlinden from Interpath Advisory went on to explain that despite the "exhaustive efforts" of the management team, with cashflow pressures intensifying, directors had no option but to cease trading.
As such, 15 employees have now been made redundant.
Liquidators will be providing support to all impacted staff to help them submit redundancy claims.
Nimmo, chief executive of Interpath Advisory, said: “The collapse of Stewart and Shields is another indicator of the challenges and economic headwinds currently facing the Scottish construction sector.
“The directors fought hard to save this long-standing family-run business, but the construction industry has experienced several challenges over recent years, with rising raw material costs, supply chain disruption and labour challenges putting businesses under increased pressure.”
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