Administrators of Dunfermline-based Braisby Roofing are asking the court to appoint insolvency specialist Shona Campbell of Henderson Loggie as liquidator.
The 60-year-old company, which employed 20 people, closed on Friday May 27.
William Braisby, Managing Director, said: We have explored all options to continue trading but unfortunately spiraling costs and material shortages coupled with unsustainable cash flow issues have led us to seek voluntary liquidation.
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Braisby Roofing was established in 1965.
The company’s business performance has suffered due to lockdown restrictions throughout the pandemic.
Cash flow problems due to late payments, rising costs and large six-figure bad debts made it increasingly difficult to continue operations.
Mr Braisby, grandson of the eponymous founder, said: ‘Construction is a difficult business to be in at the moment and like many businesses we have been badly affected by Covid which has caused delays to projects where we were the prime contractor and significant bad debts from customers not meeting their obligations.
The family also owns Kwikco Supplies, a wholesale supplier of household cleaning products, hand and power tools, fasteners and workwear. He continues to trade as usual.
Administrators aim to rehire some affected employees within the company.
Shona Campbell, insolvency partner at Henderson Loggie, said: “It’s sad when a long-standing business has no choice but to go into liquidation.
“I will work with the family to close the business of the business and provide guidance and support to ensure employees receive full employment rights.”