Largs-based electrical contracting company Elecore Electrical has gone into liquidation.
Founded in 2017, the family-owned business provided a range of electrical design, contracting, data, fibre and project management services for large construction projects.
It had grown to become one of the leading electrical contracting businesses across Scotland, but fell into unsustainable cash flow problems stemming from the pandemic, including the cessation of construction activity and, more recently, delays to projects caused by widespread labour and materials shortages.
The business has ceased trading with immediate effect and all 28 staff were made redundant by company just prior the appointment of liquidators.
Derek Forsyth and Blair Milne, partners with Azets, have been appointed joint provisional liquidators.
Restructuring partner Derek Forsyth said: “Elecore Electrical was a highly respected electrical contracting firm with a quality client base and a good pipeline of potential work.
“The directors did everything possible to keep the business trading, however the scale of cash flow problems and the impact of the lockdown left them with no alternative other than to place the company into liquidation.
“We will now focus on winding up the business and will work closely with agencies such as the Redundancy Payments Office and PACE to minimise the impact on the staff that have been affected by the closure.”
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