INVERNESS-based construction group UBC has gone into administration, throwing the future of its workforce of 277 all over Scotland into doubt.
With headquarters in Henderson Road, Inverness, UBC is a privately owned building and civil engineering company trading as UBC Group, Wyvis Building Services, Wyvis Roofing and Mardon Project Services.
Together these businesses turn over around £31 million and employ 277 permanent members of staff in Inverness, Glasgow, Dundee, Bathgate, Stornoway and South Uist.
Joint administrator Elizabeth Mackay, of corporate restructuring specialists Zolfo Cooper, said: “Unfortunately, the group has suffered from the widespread downturn impacting the construction industry and as a result has experienced a decline in trading performance. The financial position facing the business was such that administration was the last remaining option available to the directors.
“Working with all stakeholders including employees, customers, suppliers and regional and national governments, our priority now is to stabilise the business and fully assess the financial position such that we can identify the best possible route forward under what are clearly difficult circumstances.”
Managing director of UBC Group, Seumas Peteranna, added: “This is a very sad day for everyone connected to this family business and the communities we have served for the last 40 years. The directors have looked at every possible option to avoid administration but it became inevitable because of the general downturn in the building sector and the inability of some companies to pay us.”
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Building firm in administration