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
This well-established company operates to NSI Gold standards, providing comprehensive security solutions including design, installation, and maintenance for systems such as intruder alarms, fire alarms, CCTV, and access control. With a strong supplie...
This well-established business offers a comprehensive range of residential services, from plumbing and heating to building maintenance, with a robust customer database and a reputation for excellence across major platforms. With trained heat pump ins...
This well-established independent garage, recognised as an RAC and AA-approved car servicing provider, presents a fantastic opportunity for large fleet operators looking to integrate a renowned maintenance and repair service with a diverse client bas...
19
|
Jun
|
Administrators appointed at Devon machine building firm | ADMINISTRATION
A machine building firm in Devon with a history dating back ...
19
|
Jun
|
Hull biomass facility acquired out of administration | BUSINESS SALE
An advanced biomass facility near Hull has been acquired aft...
19
|
Jun
|
Nationwide insurance group acquires Surrey-based firm | BUSINESS SALE
A nationwide insurance group has expanded its presence in th...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.