Cash flow problems hit firm
44 jobs axed as Stirling window firm in liquidation
A long-established Stirling-based window and door manufacturer, Guardian Systems, and an associate company, Guardian Soft Furnishings, which supplied soft furnishings, have been placed in liquidation with the loss of 44 jobs.
Founded in 1993, Guardian Systems manufactured and supplied custom-made windows, doors, conservatories and associated products for the residential and commercial market.
Based in Springkerse Industrial Estate in Stirling, Guardian Systems was trading strongly at the start of the year, and had a turnover close to £1.5m, but witnessed a fall in orders during the summer.
This led to major cash flow problems and unsustainable losses, leading to a decision to place the company in liquidation with 27 jobs axed.
Guardian Soft Furnishingssupplied hotels and commercial premises, in addition to residential clients. The liquidation has led to the loss of 17 jobs.
Derek Forsyth, head of restructuring and insolvency with accountants Campbell Dallas said: “Guardian Systems and Guardian Soft Furnishings were well-known in their markets, and had good quality clients.
“It is unfortunate that a number of factors created significant problems that ultimately caused both businesses to be placed in liquidation. We are marketing assets for sale and would encourage interested parties to make contact with us as soon as possible.”