An all-trades contractor has gone into administration as a result of inflationary cost pressures, with all 16 staff made redundant.

Blair Nimmo and Geoff Jacobs of Interpath Advisory have been appointed joint administrators of Logie Glazing and Building Services.

Based in Dundee, the company operated as a specialist glazing and general building business providing extensions, conversions, insurance-related contracts, general building works or sub-contracting work to main contractors. Incorporated in 2006, it worked for both private and public sector clients across Angus, Fife and neighbouring areas.

Administrators said Logie has recently suffered from the effects of cost inflation prevalent across the construction secto, leading to pressure on profit margins and cash.

Though the director sought to identify alternative sources of finance, no solution was obtained to resolve the company’s constrained cash position.  Unable to continue trading, the director took the decision to appoint administrators.

“Logie Glazing was a very well-established business, which, like many in the sector and despite the director’s best efforts, was unable to withstand what continues to be a very challenging trading environment," said Mr Nimmo, chief executive of Interpath Advisory.

Mr Jacobs added:  “As a matter of priority, we will be providing support to those employees who have been made redundant, including providing them with the information required to make claims from the Redundancy Payments Service. Any parties who have an interest in the company’s business and assets should contact the administrators as soon as possible.”

Consent granted for drilling in controversial Rosebank oil field

 

Energy companies have been given the green light to begin drilling in the controversial Rosebank oil field off the coast of Shetland. Development and production consent for operations to begin in the field - the largest untapped repository of fossil fuel in UK waters - has been granted by the North Sea Transition Authority (NSTA).

Irn-Bru keeps prices keen to help struggling Scots

 

AG Barr kept prices keen as it turned in a strong first-half performance to remain on track to lift profits during its current year, despite the vagaries of the Scottish weather. The Irn-Bru maker said it decided to not pass on the full impact of cost inflation to trade customers as consumers continue to struggle with the cost of living crisis.

The strategy paid off as the company highlighted strong trading across the group, which now includes energy drinks, cocktail mixers, and oat milk, as profits and revenue surged in the six months to July 30.