50 jobs go as firm runs out of cash
Cable supplier to Trump calls in administrators
Founded in 2003 and with offices in Aberdeen and Dalgety Bay in Fife, Xtreme Business Solutions had contracts with a range of private and public sector.
Aside from Trump International Golf Links, it supplied Network Rail, University of St Andrews and William Grant & Sons.
The company provided a full end-to-end service, from design and consultancy through to installation, servicing and maintenance. Turnover was around £2 million.
The administration was caused by rising costs and falling margins, leading to unsustainable cash flow issues.
Administrators from FRP Advisory will be marketing the company assets for sale, including vehicles, access platforms and work in progress.
The business has ceased trading with immediate effect, resulting in all 50 staff – 31 in Aberdeen, 19 in Dalgety Bay – being made redundant.
Commenting, joint administrator Iain Fraser, partner with FRP Advisory (pictured), said: “Xtreme Business Solutions was an established, respected operator in the specialist cabling sector. Unfortunately, the financial issues facing the company could not be resolved and administration was the only option.
“We will work closely with all agencies such as the Redundancy Payments Office to ensure employees receive every support and assistance at this very difficult time.”