The directors of Dunfermline-based Braisby Roofing are applying to the court to appoint liquidators.
The 60-year-old firm closed on 27 May, with 20 employees losing their jobs.
Braisby Roofing was established in 1965 and has remained in the family since then. The company’s trading performance suffered because of lockdown restrictions throughout the pandemic, and cash flow challenges due to late payments, rising costs and six-figure bad debts have made it increasingly difficult to continue in business.
The family also owns Kwikco Supplies - a wholesale supplier of janitorial products, hand and power tools, fasteners and fixings and workwear - which is unaffected by the liquidation and continues to trade as usual.
The directors stated that they wish to concentrate on Kwikco and are aiming to re-employ some affected employees within the business.
William Braisby, managing director of Braisby Roofing - and grandson of the eponymous 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, partner at Henderson Loggie, has been appointed as liquidator.
She commented: “The directors have reached a very difficult decision after facing up to many challenges.
“It’s sad when a long-standing 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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