AJ Clark (Holdings) Ltd, AJ Clark Construction Ltd and AJ Clark (Concrete Flooring) Ltd were placed in receivership yesterday. ATD Developments Ltd went in to administration. PricewaterhouseCoopers (PwC) is managing the company’s affairs now.
The company was established by Allan Clark in 1996. Turnover last year was £19.5m.
In a statement to the local media, PwC director Alan Brown, joint receiver, said: "Following the well documented slowdown in the construction industry across Scotland and the UK, the directors have struggled to secure sufficient profitable contracts and therefore re-evaluated their longer term strategy.
"After discussions with the existing lenders, suppliers and customers, the board has taken the difficult decision to place these companies into receivership or administration. From our initial review of the businesses, it was clear that it would not be possible to continue to trade, therefore we took the difficult decision to immediately cease trading with the loss of 55 jobs."
He concluded: "Our priority will now be to work with the remaining employees, suppliers and customers to realise the value in the companies’ assets and contracts."
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