May 11 2012
ALMOST 250 people have been made redundant after three construction firms ceased trading.
Another firm remains in administration but it is hoped that a sale will be arranged.
Zolfo Cooper were appointed administrators of the businesses, which traded as UBC Group, Wyvis Building Services, Wyvis Roofing and Mardon Project Services, earlier this month.
They were appointed after the businesses, referred to as “the Group”, experienced cash flow problems due to “extremely challenging trading conditions”.
Following in-depth analysis of the Group’s financial position and meetings with key stakeholders, administrators said they found that the Group’s financial position was unsustainable.
Today they announced that trading will cease with immediate effect at UBC Group, Wyvis Buildings Services and Mardon Project Services.
There will be 238 redundancies as a result: 98 in Inverness, 90 in the Western Isles, 45 in Bathgate and five in Stepps.
Elizabeth Mackay, joint administrator and lead partner for Zolfo Cooper in Scotland, said: “It was with great regret that we have had to take today’s extremely difficult decision.
“We are fully aware of the impact that these redundancies have on the communities in which UBC Group operated for many years and my team and I will be working with all relevant agencies and third parties to seek to minimise the impact as much as possible.
“Unfortunately, the Group’s overall financial position had become untenable and a lack of outside interest in acquiring the business as a going concern meant that today’s decision was the only remaining course of action available.
“I would like to thank all Group employees for their professionalism and dedication during this unsettling period and wish them luck for the future.”
Wyvis Roofing is not affected by the announcement and administrators hope to arrange a sale, preserving about 30 jobs in Inverness.
Zolfo Cooper said that the joint administrators will be working closely with the Scottish Government and other agencies to help former employees in their search for new jobs.