By Ian McConnell
A SCOTTISH roofing company established in 1965 has ceased trading, with all of its 20 employees losing their jobs.
The directors of Dunfermline-based Braisby Roofing are applying to the court to appoint insolvency specialist Shona Campbell of Henderson Loggie as liquidator. The 60-year-old firm closed on Friday.
Braisby Roofing has remained in the ownership of the Braisby family since it was established.
The company’s trading performance suffered because of lockdown restrictions throughout the pandemic, and faced cash-flow challenges arising from late payments as well as rising costs, Henderson Loggie noted.
"Significant six-figure bad debts" had made it "increasingly difficult to continue in business", it added.
The family also owns Kwikco Supplies, a wholesale supplier of janitorial products, hand and power tools, fasteners and fixings, and workwear. Kwikco is unaffected by the decision to place Braisby Roofing into liquidation and continues to trade as usual. The directors wish to concentrate on Kwikco and are aiming to re-employ some affected staff within the business, Henderson Loggie noted.
William Braisby, managing director of Braisby Roofing and grandson of the founder, said: “Construction is a difficult business to be in right now and, like many companies, we have been severely impacted by Covid, which resulted in delays on projects where we were the principal contractor and significant bad debts from customers failing to meet their obligations. We have explored every option to continue trading but, regretfully, spiralling costs and shortage of materials coupled with unsustainable cashflow problems have led us to apply for voluntary liquidation. We will always be grateful for the support we have received from our loyal staff.”
Shona Campbell, insolvency partner at Henderson Loggie, said:“The directors have reached a very difficult decision after facing up to many challenges. It’s sad when a longstanding business has tried to continue but has no option but to go into liquidation. I will work with the family to bring the affairs of the company to a close and provide guidance and support to ensure employees receive their full employment entitlements.”
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