Hundreds of jobs lost as construction firm Crummock collapses
Employees at the firm, based near Bonnyrigg in Midlothian, were informed on Friday that cash flow problems had led to claims from creditors.
Accountancy firm Johnston Carmichael has been appointed as receivers for a trio of companies that form Crummock.
Restructuring partners Matt Henderson and Donald McNaught are dealing with the receiverships of Crummock (Scotland) Ltd, Crummock Holdings Ltd and Crummock Ltd.
Crummock offered a wide range of civil engineering and surfacing construction expertise including: groundworks, infrastructure works, roadworks and road surfacing.
The firm has contributed to an array of landmark developments, such as the iconic Donaldson school residential development in Edinburgh, Fort Kinnaird Retail Park and Shawfair, a major drainage infrastructure project south east of Edinburgh.
Matt Henderson said: “Crummock is a long-established construction business which, like many in the industry, has suffered from reduced margins in recent times. In recent months it has also encountered cashflow difficulties due to high retention levels, the tight margins within the sector and business specific issues.
“Unfortunately, the business was unable to raise the capital to enable it to overcome the current financial challenges it faces and we are now dealing with creditors’ claims.”