Aberdeen-based Les Taylor Contractors and sister company J.G. Fowlie were placed into administration on Friday. Les Taylor Contractors specialised in civil engineering and quarrying work, but the company made pre-tax losses of £5.71million in 2009 in comparison to profits of £4.05million in 2008.
The firm employed 155 staff, and demolition contractor J.G. Fowlie had 37 workers. The majority of the employees have been made redundant with the remainder helping the administrators.
The firms were the main divisions of the Les Taylor Group and their collapse was blamed on a major downturn in demand for building-services work.
Administrators from accountants Ernst and Young said their work now was to realise assets on behalf of the companies’ creditors.
We have often complained about the lack of a rescue culture in Scotland as virtually all the businesses that are in difficulty are put into administration or liquidation. Has a company voluntary arrangement been considered? If not why not! This is something we are hoping to address. Please take a look at our pages on the company voluntary arrangement or CVA process for information on what a fantastic rescue tool it is.
If you are a struggling Scottish business there are other options! Contact our Berwick upon Tweed office on 01289 309431.