MORE than 30 people have been made redundant after a South Lanarkshire construction company fell into liquidation.
Carluke-based Iain Potter Construction provided a range of construction services to the health, education, housing, custodial and public sectors, in addition to serving a diverse range of private commercial and industrial clients.
But it found itself mired in a “severely constrained cash flow position” amid rising labour and raw material costs, alongside “increasing overheads and certain contractual difficulties”.
In the absence of funding, joint provisional liquidators Blair Nimmo and Alistair McAlinden from Interpath Advisory said they had no option but to cease trading and make all of the company’s 33 staff redundant upon their appointment on Friday (January 7) by its sole director.
Mr Nimmo, chief executive of Interpath, said: “The collapse of IPC is another worrying sign of the challenges presently facing the Scottish construction sector and, particularly, subcontractors. IPC was a well-known contractor and its insolvency will, unfortunately, not be the last we will see in the early months of 2022.”
Mr McAlinden, managing director Interpath Advisory Scotland, added: “Our immediate priority will be to assist employees with their claims to the Redundancy Payments Office, as well as safeguarding the company’s assets and liaising with IPC’s customers.”
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