Chas Smith Group, a long-established shop fitting business, has filed for administration.
Founded in 1921, the business specialised in design and installation of high-end fit outs, predominantly for automotive showrooms.
Operating from leasehold premises in Kirkintilloch, near Glasgow, and Hoddesdon, North London, the business had nine employees - all of whom have been made redundant.
Joint administrator Michelle Elliot, a partner at FRP Advisory, said: “The business has unfortunately been severely affected by the pandemic, with a number of projects cancelled or suspended, coupled with increased labour and raw material costs.
“These challenges have resulted in significant cash flow difficulties - despite every effort by its directors to keep the business trading, the severe financial problems meant the company was not viable.
“We will be working closely with the Redundancy Payments Service and other agencies to minimise the impact on the staff, he continued,” adding: “We are also exploring a sale of the business and assets, either in whole or in part as quickly as possible.”
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