60-year old Fife family business goes into liquidation

A long-established Fife company has closed its doors, and gone into liquidation.

Thursday, 2nd June 2022, 10:51 am

The directors of Dunfermline based Braisby Roofing are applying to the court to appoint insolvency specialist Shona Campbell of Henderson Loggie as liquidator.

The 60-year-old firm, which employed 20 people, closed on Friday, May 27.

William Braisby, managing director, said: We have explored every option to continue trading but, regretfully, spiralling costs and shortage of materials coupled with unsustainable cashflow problems have led us to apply for voluntary liquidation.”

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Shona Campbell, insolvency partner at Henderson Loggie

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Braisby Roofing was established in 1965.

The company’s trading performance suffered because of lockdown restrictions throughout the pandemic.

Cash flow challenges due to late payments, rising costs, and significant six-figure bad debts have made it increasingly difficult to continue in business.

Mr Braisby, grandson of the eponymous founder, said: “Construction is a difficult business to be in right now and, like many companies, we have been severely impacted by Covid, which resulted in delays on projects where we were the principal contractor and significant bad debts from customers failing to meet their obligations.”

The family also owns Kwikco Supplies a wholesale supplier of janitorial products, hand and power tools, fasteners and fixings and workwear. It continues to trade as usual.

The directors aim to re-employ some affected employees within the business.

Shona Campbell, insolvency partner at Henderson Loggie, said: “It’s sad when a long-standing business has no option but to go into liquidation.

“I will work with the family to bring the affairs of the company to a close and provide guidance and support to ensure employees receive their full employment entitlements.”