LOGIE GLAZING AND BUILDING SERVICES DECLARES ADMINISTRATORS, RESULTING IN REDUNDANCIES FOR 16 EMPLOYEES
Logie Glazing and Building Services, a renowned company based in Dundee, has recently appointed administrators, leading to the unfortunate redundancy of all 16 employees. The company specialized in glazing projects and undertook general building contracts for clients in the private and public sectors across Angus, Fife, and neighboring areas.
Established in 2006, Logie Glazing and Building Services fell victim to the cost inflation prevailing throughout the construction sector, putting immense pressure on profit margins and available cash. Despite the director’s best efforts to secure alternative sources of finance, a viable solution to address the restricted cash position could not be obtained, ultimately leading to the appointment of administrators and the subsequent cessation of Logie’s operations.
Blair Nimmo, the joint administrator and chief executive of Interpath Advisory, expressed his views on the matter, stating, Logie Glazing was a very well-established business, which, like many others in the sector, was unable to withstand the ongoing challenges within the trading environment. This sentiment highlights the tremendous difficulties faced by companies in the construction industry in recent times.
Geoff Jacobs, the joint administrator and managing director at Interpath, emphasized the immediate priority of providing support to the employees who have unfortunately been made redundant. The administrators will furnish them with the required information to facilitate their claims from the Redundancy Payments Service. Additionally, Jacobs encouraged any parties with an interest in Logie Glazing and Building Services’ business and assets to promptly get in touch with the administrators.
In a sector grappling with numerous obstacles, Logie Glazing and Building Services’ story serves as a reminder of the continued adversity faced by businesses in the construction industry. The impact of cost inflation coupled with cash constraints can create insurmountable challenges, as evidenced by the unfortunate closure of this well-established company. The administrators are committed to assisting the affected employees during this difficult time, ensuring they receive the necessary support.
