UBC Group enters administration
May 8 2012
The firm, founded in the Western Isles, had gone on to establish offices throughout Scotland, securing work in the renewable energy sector and employing 277 people.
As recently as February UBC had expressed confidence in the future, citing their work on the Beauly-Denny transmission line, the largest civil engineering contract ever undertaken by the firm.
Attributing UBC’s demise to the industry “downturn” UBC managing director Seumas Pedrana who said: “The directors have looked at every possible option to avoid administration but it became inevitable because of the general downturn in the building sector and the inability of some companies to pay us.”
Joint administrator Elizabeth Mackay added: “The financial position facing the business was such that administration was the last remaining option available to the directors.
"Working with all stakeholders including employees, customers, suppliers and regional and national governments, our priority now is to stabilise the business and fully assess the financial position such that we can identify the best possible route forward under what are clearly difficult circumstances.”
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