A TARMAC company based in Kilmarnock has fallen into the hands of liquidators after facing financial difficulties.
Alastair Dick Tarmac Ltd is in the process of liquidation following a successful petition to place the firm into administration, which was presented to Kilmarnock Sheriff Court last month.
Sheriff Bissett appointed Kevin Mapstone from BTG Begbies Traynor as liquidator to the Ayr Road-based company.
Founded in 2013, Alastair Dick Tarmac provided surfacing services for roads and pedestrian areas, but fell into administration after it suffered “cash flow issues” and was unable to continue to trade and pay its creditors.
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Thomas McKay (below), BTG managing partner for Scotland and Northern Ireland, said it remains a “difficult time” for small and medium-sized businesses in Scotland.
He said: “Kilmarnock-based Alastair Dick Tarmac Ltd, which provided surfacing services for roads and pedestrian areas, has been placed in administration, with Kevin Mapstone of BTG appointed administrator on 23 February.
“The business suffered from cash flow issues and was unable to continue to trade and sustain payments to creditors.
“It remains a difficult time for SME businesses across Scotland. Seeking advice as early as possible can help provide options and some peace of mind to directors in difficult trading circumstances.”
According to Alastair Dick Tarmac Ltd’s last filings on Companies House, the total equity of the firm, the net worth of a company, was £1.4m in 2023, and was down from £1.7m in 2022.
The firm also owed £1.2m in debts to creditors in 2023, up from £1m in 2022.
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