Jobs lost as Glasgow construction firm folds
A total of 175 staff have been laid off following the collapse of a Glasgow construction company.
Provisional liquidators KPMG announced the job losses at Donaghy Limited, which folded after suffering severe cash flow problems.
A total of 10 staff have been kept on to help safeguard the company's assets, which include plant and hire equipment.
KPMG are working with Donaghy customers so remaining contracts can be completed or transferred to third parties.
Donaghy was established in 1999 and worked on construction and civil engineering contracts, primarily for the housebuilding sector.
At its peak, the business operated with an annual turnover of around £18m.
Blair Nimmo, from KPMG, said: "Despite Donaghy's strong reputation in the Scottish construction sector, the business has unfortunately experienced an extremely challenging trading period in recent months and throughout last year, largely due to the well-publicised downturn in the construction sector.
"The business was experiencing declining margins as tenders became increasingly competitive, ultimately leading to severe cashflow pressures."
Mr Nimmo added: "Regrettably, we had no option but to close the business and to make most of the employees redundant. We will now be working with the relevant government authorities to ensure staff can claim outstanding sums due to them."