Construction firm in receivership

Published on 21/08/2012 00:00

BROWN Construction, based in Dundee, has collapsed under mounting debts, leading to the loss of about 130 jobs.

Derek Hyslop and Colin Dempster of Ernst & Young have been appointed joint receivers of the company and its subsidiary Bronco Timber Products at the request of the directors.

Hyslop said: “Despite the best efforts of the directors, difficult economic conditions have resulted in a situation where the immediate cessation of trading is necessary at both companies.

“Regretfully, this has resulted in the unavoidable loss of approximately 130 jobs.

“We are now focused on establishing the full extent of the company’s debts as we aim to realise its assets on behalf of its creditors.”