More than 50 jobs lost as Dalkeith-based building firm Terry Healy Group folds
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Callum Carmichael and Chad Griffin, partners with FRP Advisory, have been appointed joint provisional liquidators of the business, which has ceased trading with immediate effect with all 51 staff laid off.
Terry Healy Group was founded in 2014, and provided building, electrical, heating, roofing, renewable and plumbing services to trade and domestic clients. The company also supplied windows and doors and operated a 24-hour emergency repairs and maintenance service.
FRP said that despite extensive efforts to try and save the firm, its trading position had become “untenable” due to unsustainable cash flow problems stemming from liabilities built up during the Covid-19 pandemic, soaring labour and raw material costs, shrinking margins, delays to contracts and slow payments.
Mr Carmichael, partner at FRP, said: “Terry Healy Group had grown rapidly into one of the high-profile and respected multi-trades home-improvement businesses in the east of Scotland.
"Unfortunately, the business has been unable to overcome very serious financial problems and closure was the only option. We will now focus on asset realisations including the sale of the heating maintenance contracts database and would ask interested parties to contact the Edinburgh office of FRP Advisory.”
Meanwhile, Edinburgh-based video tech firm Ajenta has also gone under, with the loss of eight jobs – with the collapse blamed on the major impact Covid restrictions had on its ability to supply hardware to customers. The business has appointed Shona Campbell of Henderson Loggie as liquidator, who said: “We are hopeful of a speedy and satisfactory sale.”