Inverness-based housebuilder Roy Homes ceases trading
One of the largest suppliers of bespoke homes in the north of Scotland has ceased trading after getting into financial difficulties.
Administrators from FRP Advisory have laid off all 17 staff at Inverness-based Roy Homes Ltd and sister company Roy Homes Timber Frame Ltd.
Roy Homes started trading in 1979 and offered a full design-to-build service for self-build timber homes.
Roy Timber Frame was founded in 2011 and supplied timber frame kits.
The combined annual turnover of the businesses was £3.2m.
In a statement, FRP Advisory said the administrations had been caused by serious cash flow problems.
It said: "As a result, both companies have ceased trading and all staff have been made redundant with immediate effect.
"The staff will be helped to make claims to the Insolvency Service for arrears of pay, payment in lieu of notice of redundancy, and holiday pay."
The administrators have placed the companies' assets and goodwill up for sale, including "a handful of live projects".
Joint administrator Iain Fraser said: "The Roy Homes brand is a well-known across Scotland, and is highly regarded for the quality of designs, construction and full service package.
"Unfortunately, the businesses ran into severe financial problems and administration was the only option.
"The self-build market is expanding rapidly across the UK and we are hopeful that there will be strong interest in the assets of these well-known businesses."
Another company, Springfield Properties has offered help to those who have been made redundant.
HR manager Heather Henderson said: "We're saddened to hear that 17 workers and their families have been affected by housebuilder Roy Homes falling into administration.
"Springfield are always on the lookout for reliable and skilled tradesmen to join the team.
"With work starting on site for six new developments in the coming months, we are in a strong position in the property industry. We welcome any inquiries from those with skills that will be able to contribute to the success of the business. If we can help, we will."