Iain Fraser and Tom MacLennan, partners with FRP Advisory, have been appointed joint administrators to Xtreme Business Solutions Ltd, a specialist supplier of cabling infrastructure and networked wireless systems and services, which has collapsed with the loss of all 50 jobs at the company, which had the Trump golf course amongst its clients
Founded in 2003 and with offices in Aberdeen and Dalgety Bay in Fife, Xtreme Business Solutions had become one of the leading cabling systems contractors in the north and east of Scotland, winning contracts across the public and private sectors. Clients included Trump International Golf Links, Network Rail, University of St Andrews and William Grant & Sons.
The company provided a full end-to-end service, from design and consultancy through to installation, servicing and maintenance. Turnover was around £2m.
The administration was caused by rising costs and falling margins, leading to unsustainable cash flow issues. The joint administrators say they will be marketing the company assets for sale, including vehicles, access platforms and work in progress.
Iain Fraser, joint administrator and partner with FRP Advisory, said: ‘Xtreme Business Solutions was an established, respected operator in the specialist cabling sector. Unfortunately, the financial issues facing the company could not be resolved and administration was the only option.
‘We will work closely with all agencies such as the Redundancy Payments Office to ensure employees receive every support and assistance at this very difficult time.’
Report by Pat Sweet
