Administrators say “significant number of redundancies likely at 280-strong firm
Scotland’s 280-strong Murfield Contracts has fallen into administration, with the newly-appointed administrators advising a “significant number” of redundancies is likely.
Dundee-based Muirfield had a turnover of £47m and carried out projects including Angus Council’s headquarters, the refurbishment of Dundee’s McManus Galleries (pictured) and the renovation of DC Thomson’s Meadowside headquarters.
It was founded in 1988 and in 2013 was sold to Azure Investments, a private equity business.
Campbell Dallas has been appointed administrators, and it said it will “now explore all options for the company”.
Campbell Dallas partner Derek Forsyth said: “Muirfield Contracts is a household name in Scotland’s construction sector with an excellent reputation for the quality of its client base and projects.
“Although the company has a large turnover, it had been suffering from unsustainable cash flow problems and despite best efforts to raise additional funding administration was the only option.
“It is likely that a significant number of employees will be made redundant in the early stages of the administration and they will be advised as soon as possible. We recognise that this is a very difficult time for all concerned and will do our utmost to provide as much support as we can.”