Firm in administration
77 jobs lost as cash flow crisis claims Lambert Contracts
The Paisley-based firm undertook a wide range of building and construction work, specialising in insurance reinstatement and fire contracts, in addition to general property maintenance, installation and repair work.
It also had an office in Aberdeen and employed 85 staff as well as a significant number of labour-only sub-contractors.
Founded in 1985, Lambert Contracts had a turnover of £14.7m in the year to 30 April 2017.
Joint administrators, Derek Forsyth (pictured) and Blair Milne, partners with Campbell Dallas, will now explore all options for the company.
Head of recovery Mr Forsyth said: “Lambert Contracts is a well-known name in Scotland’s construction sector with an excellent reputation for the quality of its client base and projects.
“Although the company has a large turnover, it had been suffering from cash flow problems and despite best efforts to raise additional funding administration was the only option.
“Unfortunately, 77 staff have been made redundant with immediate effect with the balance of 8 staff being retained in the short term to assist with the wind-down of the business.
We will do our utmost to provide as much support as we can to the employees. We will also be looking to sell any assets to generate value for creditors and would urge interested parties to contact us as soon as possible.”