Arbroath-based ATM product producer ATMRC is set to be liquidated, with 13 workers being made redundant.
Established in 2007 as the ATM Refurbishment Centre in Dundee, the family-run business once had more than 70 staff.
It rebranded to ATMRC in 2010 and moved to a site at Kings Works on Sir William Smith Road in 2017. In 2022, the company acquired Dougal Walker Electrical Contractors.
Insolvency practitioners FA Simms & Partners were instructed by the directors last week to assist with the placing the company into Creditors Voluntary Liquidation.
The proposed liquidation date is 17 July, but the majority of the workforce were made redundant on 27 June.
"A skeleton staff remains in place to assist with the closure of the company," read a statement. "The directors had sought alternative options for a number of months, but regrettably liquidation ultimately proved to be the only viable option."
The Courier reported that the business has been on the decline for a number of years, with reduction in the fees paid when retailers process card payments in 2018 forcing several redundancies. Brexit and the pandemic hindered plans to diversify and expand into Europe.
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