Almost 70 members of staff have been made redundant after a construction firm based in Perth and Kinross appointed administrators.
Work on active Hadden Construction sites – headquartered in Auchterarder – including affordable housing and supported living apartment developments will cease pending a review of works in progress.
Joint administrators Ben Cairns and Jonny Marston from Alvarez & Marsal were appointed this week to “wind down” the company’s operations.
Sixty six members of staff are to be made redundant from the firm which was founded in 1992.
Rising labour costs and inflation on buying materials were cited for the collapse.
Mr Cairns said: “Like other contractors, Hadden Construction has been battling a number of headwinds in recent years, including inflated materials prices, rising labour costs and supply chain interruptions.
“As administrators, we will seek an orderly wind down of the operations and will welcome any investor interest in the company’s assets.”
Hadden also undertook work at the University of Stirling’s Muirhead House student accommodation as part of a £6.25m refurbishment.
The Ferguson Veterinary Clinic in Glenrothes and the Edward Lawson Centre in Wishaw are also among the company’s active developments.
Mr Cairns added: “We understand that today’s news is unsettling for the company’s employees and will be doing all we can to support them over the weeks ahead.”
Graeme Dey MSP for Angus South said: “It is troubling to hear of the imminent liquidation of Hadden Construction, particularly because it means 66 members of staff will be made redundant.
“However the company is also involved in the building of affordable homes in Newtyle.
“I have therefore written to Angus Council seeking clarity on what steps they will take to secure and complete these homes.”
A spokesperson for Perth and Kinross Council said: “The council remains committed to deliver the programmed works. Decisions will be made on an individual basis.
“It is likely that there will be some delay but at this time every effort will be made to minimise this.”
An Angus Council spokesperson said: “The Hadden Construction firm were working with Angus Housing Association for ten units in Newtyle.
“Although not an Angus Council build, we regret to see the potential impact on bringing new affordable housing developments to Angus as well as the impact on the workforce.
“Any workers in Angus can contact our skills team for help at skillsteam@angus.gov.uk or 03452 777 778.”
Hadden Construction has been contacted for comment.
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