A family-run Glasgow building firm has been placed into administration with the loss of 148 jobs.

Central Building Contractors was founded nearly 50 years ago.

However, it has been forced out of business by cash flow difficulties, made worse by the current closure of much of the construction industry.

Administrators KPMG said 11 employees were staying on to assist as they try to sell on the business or its remaining assets.

Central Building Contractors, which has its headquarters in Glasgow, provided a range of construction design, development and maintenance services throughout Scotland.

Blair Nimmo, joint administrator for KPMG, said the company had “a rich history” and was a well-known and highly-regarded business in Scotland.

Support for employees

But he added: “Despite the efforts of the directors, the business faced a range of cash flow challenges in recent times, which were amplified by the recent Covid-19 lockdown.

“We will be working to support the employees and have already initiated matters with relevant government agencies to ensure the full range of support is available to all those affected.”

Central Building Contractors director James McAlpine said already difficult trading conditions exacerbated by Covid-19 “made our financial position unsustainable”.

He said: “It is with significant regret that administration has been necessary.

“We have been very fortunate to have loyal and hard-working staff, a supportive supply chain and professional partners, many of whom have worked closely with the business for a great many years.

“We will work closely with the administrators to ensure every possible assistance is provided to all our employees during this exceptionally difficult time.”