By Ian McConnell
LIVINGSTON construction, civil engineering and power solutions services company NRS UK has fallen into administration amid “spiralling supply-chain costs”, with 45 of its 47 staff made redundant.
Michelle Elliot and Stuart Robb, partners of FRP Advisory, have been appointed as joint administrators of the company.
The administrators noted NRS UK served “a wide range of blue-chip, private and public sector clients”, with recent Scottish projects including work on St Andrew’s Cross electricity substation in Glasgow, the Seagreen wind farm off the Angus coast, Hunterston substation, and civil engineering activity on Sauchiehall Street in Glasgow.
Founded in 2010, NRS UK had an annual turnover of £33 million.
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The joint administrators said: “The administration has been caused by spiralling supply-chain costs in 2022 to date magnified by severe losses stemming from fixed-price contracts, resulting in recent unsustainable cash-flow and financial problems.”
They added: “The business has ceased trading with immediate effect and 45 staff have been made redundant with two retained to assist in the short term with the administration process.”
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Ms Elliot said: “NRS UK is an established and highly regarded civil engineering and energy construction specialist with an impressive portfolio of projects across Scotland and England. The business has been exposed to the well-documented problems of surging costs affecting supply chains and from fixed-price contracts that resulted in involuntary losses. Despite the best efforts of the sole director, the business faced a range of cash-flow challenges in recent weeks due to these issues and could not continue trading.”
She added that the joint administrators would now “market the business and assets” of NRS UK and encouraged any interest parties to “make contact as soon as possible”.
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