Collapse due to cash flow
Muirfield blamed as windows firm shuts
East Kilbride-based firm TFD (Scotland) which supplied windows to the trade and housebuilding sector, shut down yesterday after more than 13 years with the loss of 63 jobs.
The company suffered cash flow problems after losing a major deal with Dundee-based Muirfield. Customer difficulties in the wider construction sector was a contributory factor.
Donald McNaught (pictured), a restructuring partner at Johnston Carmichael, has been appointed the provisional liquidator.
He is working with Partnership Action for Continuing Employment (PACE), a consortium of 22 organisations including Skills Development Scotland, to help the employees affected find new jobs.
He said: “Unfortunately the business has been unable to ensure sufficient cashflow to remain viable, despite repeated efforts by the directors to improve its position and protect jobs. We are now actively seeking buyers interested in the company’s remaining stock, premises, plant and equipment.”