A Scottish building contractor based near Auchterarder has fallen into administration with the loss of nearly 70 jobs.
Hadden Construction, which works on projects ranging from residential developments to commercial and public buildings, has been “battling a number of headwinds” over recent years, administrators said.
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Ben Cairns and Jonny Martson of professional services firm Alvarez & Marsal Europe were appointed joint administrators on September 10. Further to the appointment, activities at the company’s sites will cease pending a review of works in progress, which will affect projects at various stages. Some 66 employees will be made redundant, a statement said.
Ben Cairns, managing director at Alvarez & Marsal, said: “Like other contractors, Hadden Construction has been battling a number of headwinds in recent years, including inflated materials prices, rising labour costs and supply chain interruptions.
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“As administrators, we will seek an orderly wind down of the operations and will welcome any investor interest in the company’s assets.
“We understand that today’s news is unsettling for the company’s employees and will be doing all we can to support them over the weeks ahead.”
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