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Construction business in administration

June 1st, 2010 by Chris St Cartmail

Inverness-based Highland Quality Construction, one the largest civil engineering contractors in the north of Scotland, has reportedly gone into administration.

No one at the company could be contacted to confirm this. However, subsidiary company Highland Recycling Company Ltd, a separate company, has told the Construction Index News it was unaffected by the administration.

The BBC reported that the directors of Highland Quality Construction (HQC) resigned last Thursday and an administrator was appointed the following day. HQC had an annual turnover of £20m.

For the latest lists of businesses going into administration please check our businesses in administration pages.

This latest news is unfortunate, as only recently the RICS reported that the net balance of workload for construction businesses had moved into positive territory. However, the RICS did note that there was a wide regional variation with Scotland being particularly hard hit. The AIB had also reported a rise in businesses going into insolvency procedures in the first quarter of this year and they hoped that this was not an emerging trend. Looks like the recent news out of Scotland is not too good for the Scottish economy.