May 8 2012
A BUILDING firm which employs 277 people in Scotland has gone into administration.
UBC Group had suffered from the “widespread downturn” affecting the construction industry, administrators Zolfo Cooper said.
They said they will continue to trade the group, which has an annual turnover of around £31million, while exploring “all possible options” for its future, including a sale of all or parts of the business.
Joint administrator Elizabeth Mackay 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.”
The group includes UBC Holdings Limited, UBC Group Limited, UBC Homes Limited, Wyvis Building Services Limited, Wyvis Roofing Limited, Mardon Project Services Limited, UBC Central Limited and UBC East Limited.
The building and civil engineering company employs a total of 277 permanent members of staff, operating from premises in Inverness, Glasgow, Dundee, Bathgate, Stornoway and South Uist.
UBC managing director Seumas Pedrana said: “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.”