Mechanical and electrical specialist Weir & McQuiston, based in Wishaw, Scotland, has ceased trading with immediate effect, with the loss of 93 jobs.
Blair Milne and James Fennessey, partners with accountancy firm Azets, have been appointed as joint administrators of the family-owned North Lanarkshire company.
Milne, head of restructuring with Azets, said: “Weir & McQuiston was one of Scotland’s leading mechanical and electrical contracting firms with a quality client base and an excellent reputation across the construction industry.
“The administration was caused by unsustainable cash flow problems stemming from wafer-thin margins in the construction sector, the cessation of construction activity and the widely reported problems with labour and materials shortages.
“The directors did everything possible to keep the business trading, however, the scale of cash-flow problems and the impact of the lockdown left them with no alternative other than to cease trading and place the company into administration.”
Founded in 1976, the business provided a full range of mechanical and electrical design, installation, maintenance, testing and consultancy services for commercial, industrial and residential sectors. Its projects included city centre offices, health boards, local authorities, private companies, community projects, churches, hotels, retail and sports centres.
The administrators added that the business had “expanded rapidly” in recent years, diversifying into new markets, including the supply of M&E consultancy and services for the growing renewables sector. Staffing peaked at over 200 in 2019, and Weir & McQuiston was firmly established as one of Scotland’s leading M&E contractors. The business was also well-known for its leading apprenticeship recruitment and training programme.
The joint administrators will now put the assets up for sale – including work in progress and plant and equipment – to interested parties making contact with Azet’s Glasgow office. They will also focus on working closely with the Redundancy Payments Office and PACE to minimise the impact on staff.
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