Scottish contractor fails as bank ends overdraft
Published: 08 March, 2011
STORNOWAY: Another blow to the Scottish construction sector comes from ADM Construction which ceased trading after its bank ended company's overdraft.
ADM Construction has made its 16 staff redundant and halted contracts last Friday. Employees were told that there was no money to pay their wages for the week, despite the company having around £500,000 of contracts on its books and £1m worth of orders.
Alex Murray, the head of the firm, said: "It is a nightmare. This has been a hideous, painful, distressing experience. It was like a death in the family here on Friday. There was no money to pay workers' wages on Friday and a decision was made to call it a day."
The firm employed bricklayers, joiners, a slater, digger driver, four labourers and five apprentices as well as two office staff.