Cash-hit Crummock collapses with 287 job losses
Crummock’s worforce has been laid off
Construction firm Crummock has collapsed under cash flow problems and has made its 287 workers redundant.
Johnston Carmichael was appointed receiver of Crummock (Scotland) Ltd, Crummock Holdings Ltd and Crummock Ltd after the Bonnyigg-based group placed itself into receivership and ceased trading today.
Crummock offered a wide range of civil engineering and surfacing construction expertise including groundworks, infrastructure works, roadworks and road surfacing.
The firm has contributed to an array of landmark developments, such as the Donaldson school residential development in Edinburgh, Fort Kinnaird Retail Park and Shawfair, a major drainage infrastructure project south east of Edinburgh.
Restructuring partner at Johnston Carmichael Matt Henderson said: “Crummock is a long-established construction business which, like many in the industry, has suffered from reduced margins in recent times.
“In recent months it has also encountered cashflow difficulties due to high retention levels, the tight margins within the sector and business specific issues.
“Unfortunately, the business was unable to raise the capital to enable it to overcome the current financial challenges it faces and we are now dealing with creditors’ claims.”