The Ayrshire business, which had annual sales of more than £9 million, is expected to go bankrupt today with the loss of 24 jobs.
Interior design contractor Worksmart Contracts went into liquidation after its board of directors exited as profits slumped.
Based in Bank Street, Kilmarnock and with a strong workforce of 24, Worksmart is a commercial powerhouse for customers operating in a wide range of industry sectors, including Scotland. Was an interior installation and renovation contractor. government.
Wiley & Bissett, an accountant and business advisor, has now been appointed liquidator of the business.
Wylie & Bisset's Managing His Partner Donald McKinnon said: as soon as.
"Worksmart's board of directors has come to the view that the business cannot continue due to a number of factors. Increased competition and pressure on margins have made the business unsustainable financially."
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“Additionally, in response to Covid, Brexit and the economic downturn, Worksmart customers appear to be tightening their purse strings. The level of work required to maintain it has dropped. COVID pandemic.
"As a result of these factors, the costs of doing business, including materials, labor, utilities and fuel, have continued to rise, reaching the highest rate of inflation in more than 40 years."
"This increased cost of doing business, combined with recent increases in national insurance and taxes.
“The business has also had to deal with a large amount of bad debt that owes us.
Many consistent client delays, uncertainty and indecision in starting new project work have resulted in a stagnant workload in recent months.
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"As a result of these factors, and despite our continued efforts, we have taken the unfortunate step of appointing a liquidator to manage the situation.
Delivering over £100 million in successful projects over 20 years.
"We have invested in our team, our business, our industry, our local supply chain and our community at large. The board is devastated to have to make this decision."
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