Doors close on McTavish Ramsey

Joint receivers Blair Nimmo and Neil Armour were called in after the firm failed to trade its way out of a Company Voluntary Agreement (CVA) set up at the beginning of March. It had been hoped that the 146-year-old business, which suffered poor trading through the winter, would stabilise its finances under the reduced debt repayment arrangements of the CVA.

However, the agreement made it difficult to acquire credit from suppliers, while a breakdown of machinery added further to lost revenues. McTavish Ramsey was also overdue on its first post-CVA payroll deduction payment to HMRC.

Some 62 of the firm's 84 staff have been made redundant with immediate effect. The remaining 24 will work to fulfil existing orders. McTavish specialises in making doors for schools, hospitals, sports stadia and other large building projects. Its clients have included both Rangers and Celtic football clubs.