Wed, 04 Oct 2017 | ADMINISTRATION
The Aberdeen-based specialist cabling service Xtreme Business Solutions has gone into administration at a loss of 50 jobs – 31 in Aberdeen and 19 in Fife.
Xtreme Business Solutions was founded in 2003 and has offices in the Dalgety Bay area. The company had been suffering for a while with rising costs and falling margins and was struggling against "unsustainable cash flow issues".
Iain Fraser and Tom MacLennan, partners with FRP Advisory LLP, have been appointed joint administrators of the company which fitted and maintained cabling and networked systems such as CCTV.
Commenting on the administration, Fraser said: "Unfortunately, the financial issues facing the company could not be resolved and administration was the only option."
"Xtreme Business Solutions was an established, respected operator in the specialist cabling sector."
“We will work closely with all agencies such as the Redundancy Payments Office to ensure employees receive every support and assistance at this very difficult time.”
Clients included Trump International Golf Links, Network Rail, St Andrews University and William Grant & Sons.
Search businesses in administration
Subscribe to the Business Sale Report
Opportunity to acquire the Business & Assets of :- A Well Established National Reprographics and Flexo Plate Manufacturer. Expressions of interest are to be made by COB Thursday 17 October 2019. All offers are to be received by Midday Wednesday 23 Oc...
Service retailer member of Europe's largest buying group. Additional gift shop in the business with additional income streams. Business across 2 units (Retail & Storage, admin & service). Sale and installation and of aerials, satellites and CCTV. Of...
Well established care agency for sale. Situated in a predominantly residential area close to the town centre. Thriving business with ample growth potential. Highly reputed with regular and repeat trade. Offers invited.
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources