NEARLY 40 staff have lost their jobs after the collapse of a Scottish construction equipment firm.
Adastra Access Ltd, which provided specialist access equipment to the construction industry, has appointed administrators after suffering significant cash flow pressures and trading losses.
It means 38 employees have been made redundant.
Operating from its base in Glasgow, the company provided mast climbing work platforms and suspended cradles to construction contractors operating across commercial and residential construction, maintenance and refurbishment of existing buildings and the construction of maritime transport.
The firm has been involved in a number of successful large-scale projects across the UK but in recent years it has faced huge operational, health and safety and financial challenges.
Administrators Blair Nimmo and Alistair McAlinden of Interpath Advisory said the firm’s directors “fought hard to save the business” but the financial position of the company deteriorated such that the business was no longer considered viable.
Blair Nimmo, chief executive of Interpath Advisory and joint administrator, said: “The collapse of Adastra Access Limited is another indicator of the challenges and economic headwinds currently facing the Scottish and UK construction sector and in particular, subcontractors.
“The directors fought hard to save this business, but it was ultimately impossible to mitigate the impacts of labour shortages, rising costs and delays to customer projects.”
Alistair McAlinden, head of Interpath Advisory in Scotland and also joint administrator, added: “Our priority is to assist those members of staff who have been made redundant, providing them with the information and support they need to claim their statutory entitlements, as well as to support the directors and ultimate owners, for whom this is also a very difficult time.
“We are in contact with various government support agencies, including Partnership Action for Continuing Employment, who are also fully committed to assisting impacted employees.”
