Kilmarnock interior fit-out firm employing 24 people collapses in wake of Brexit and Covid

A Kilmarnock-based interior fit-out and refurbishment contractor with a 24-strong workforce has gone bust.

Wylie & Bisset, the accountancy and business advisory firm, has been appointed as liquidator of Worksmart Contracts. The collapse of the business has been blamed on a number of factors including Brexit and the pandemic.

Managing director Steve Neilson said: “Over the past few years, Worksmart has been challenged by several external factors, including recession, Brexit and, more recently, the ongoing Covid pandemic.

“The consequences of these factors have resulted in persistent cost increases for the business, including in materials, labour, utilities, and fuel resulting in the highest inflation rate in over 40 years.

“The business has also had to cope with significant bad debts owed to us and, in general, slow payments from some clients over recent months.

“As a result of these factors, and despite our continued efforts, we have taken the regretful step to appoint a liquidator to help manage the situation.”

Wylie & Bisset managing partner Donald McKinnon said: “Following Worksmart’s turnover falling from circa £9 million to around £5/6m during the pandemic, the directors have arrived at the regretful decision to wind up the business as soon as practicably possible.

“Worksmart’s directors have reached the view that the business cannot continue to trade due to a number of factors; competition is fierce and profit margins have been squeezed to the extent that the business is no longer financially sustainable.

“Furthermore, it appears that, in response to Covid, Brexit and the recession, Worksmart’s customers are tightening their purse strings.”