Construction company plunges into liquidation with all jobs lost – in business since 1863 | UK | News

A Scotland-based joinery specialist went into liquidation this week. Alexander Oastler Ltd, trading as Oastler, has ceased trading with the loss of all 23 jobs after operating for more than 160 years.

Founded in 1863, the Dundee-based firm provided joinery services, including refurbishment and custom design and manufacture of furniture, windows and doors, for residential and commercial clients. Bosses have blamed rising costs and “low levels of housebuilding” after the company suffered sustained losses over the past three years. As trading conditions deteriorated managers tried to stabilize the business but were ultimately unable to turn things around. Joint provisional liquidators James Dewar and Alistair McAlinden of Interpath were appointed on 21 April and will now wind down the firm’s affairs.

The liquidators said: “Like a number of other companies operating in the building and construction supply chain, the company has experienced difficult trading conditions in recent years, which have been exacerbated by rising input costs and lower housebuilding activity.

“In response, the director of the business took various steps to address trading performance but was ultimately unable to improve the company’s financial position. As a result, he was left with no option but to liquidate the company.

“The company has now ceased trading and unfortunately all 23 of the company’s employees have been made redundant.

“The joint provisional liquidators will provide them with all available support on a priority basis, including supporting employees with claims for monies owed to the Employees Redundancy Payments Service.”

The business has worked on a number of projects in the North East of Scotland over the years with clients including The Royal and Ancient Golf Club of St Andrews, DC Thomson and Hampton by Hilton, underlining its long-standing presence in the region.

The closure marks the latest blow to Scotland’s challenging business environment, according to the Insolvency Service; According to the Insolvency Service, 98 companies fell into insolvency in February alone.

Earlier this month a Scottish haulage firm went into liquidation after more than 30 years in business and HMRC stepped in, saying it had “exhausted all other options”.

CCH Transport Limited had ceased trading before liquidators were appointed following a court petition to wind up the company over unpaid debts.

Speaking about Oastler, Interpath chairman Alistair McAlinden said: “The headwinds faced by companies in the construction and adjacent sectors have placed significant pressures on the business.

“Continuous losses over the last three years have ultimately meant that the Company has had no choice but to cease trading.

“We will now begin the process of winding up the companies and will also provide post-redundancy support to Oastler’s dedicated team.

“If anyone has an interest in the business or assets, please contact the joint provisional liquidators team urgently.”

The collapse highlights increasing pressure across the construction supply chain; Smaller specialist firms are being squeezed by rising material costs and a slowdown in residential construction activity.

A recent case saw Alastair Dick Tarmac Ltd collapse into administration after experiencing cash flow problems that left it unable to meet payments to creditors.

A petition to place the Kilmarnock-based paving company into administration was lodged at Kilmarnock Sheriff Court and Kevin Mapstone was appointed to handle the process.

Founded in 2013, the firm was unable to continue trading as it could no longer meet payments to creditors due to financial pressures

This announcement in March came after construction activity fell faster in February than in January, with the Purchasing Managers Index (PMI) falling from 46.4 to 44.5, according to S&P Global.

Anything below 50 indicates contraction and underscores a continuing downturn in the sector.