Major Scots construction firm set to plunge into liquidation
GONE BUST Major Scots construction firm set to plunge into liquidation
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A MAJOR Scottish construction firm is set to go into liquidation.
Pittsburgh Fife Limited, based in the coastal town of Dalgety Bay, is on the brink of collapse.
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A petition was presented at Dunfermline Sheriff Court on July 14 for the company to close up and a liquidator to be appointed, the Dunfermline Press reports.
This was then submitted by the Advocate General for Scotland for and on behalf of the Commissioners for HM Revenue and Customs.
Liquidation is a legal process where a company's assets are sold to pay off its debts.
It also ultimately leads to the company's closure and dissolution.
The process essentially consists of winding up a company's affairs.
Pittsburgh Fife Limited was formed back in 2016 and worked in construction of commercial buildings.
The address for the company was given as 3 St David's Business Park, Dalgety Bay.
Any parties claiming an interest were asked to contact the court within eight days.
It is unknown how many employees have been affected.
The Dalgety Bay company is the latest construction firm to collapse.
Edinburgh Cybersecurity Giant Adarma Collapses with 173 Jobs Lost
In April, dozens of workers have lost their jobs after a long-established Scottish painting and decorating firm went bust.
All 32 staff members at the Lanarkshire-based business were made redundant after the company entered administration.
And in May, a Scottish firm has plunged into administration after 41 years with over 20 jobs lost.
Hospital Pipeline Installations Limited (HPI) in Paisley plunged into administration due to a 'marked downturn' in trade, rising operating costs and low-margin contracts.
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