24 jobs set to go as £9m Ayrshire business plunges into liquidation

dailyrecord.co.uk:

An Ayrshire business which boasted a turnover of more than £9 million per annum has today collapsed with the expected loss of 24 jobs.

Interior design contractor Worksmart Contracts has plunged into liquidation after profits sank and directors pulled the plug.

Based in Kilmarnock's Bank Street, with a 24-strong workforce, Worksmart was a commercial interior fit-out and refurbishment contractor for clients operating across a wide range of industrial sectors, including the Scottish Government.

Now Wylie & Bisset, Accountants and Business Advisors, has been appointed as liquidator of the business.Wylie & Bisset managing partner Donald McKinnon said: “Following Worksmart’s turnover falling from circa £9m to around £5/6m during the pandemic, the directors have arrived at the regretful decision to wind up the business as soon as practicably possible.“Worksmart’s directors have reached the view that the business cannot continue to trade due to a number of factors; competition is fierce and profit margins have been squeezed to the extent that the business is no longer financially sustainable.The Ayrshire Live app is available to download now.Get all the local news in your area – plus features, football news and the latest on the coronavirus crisis – at your fingertips 24/7.The free download features the latest breaking news and exclusive stories while you can customise your page with the sections that matter to you.The Ayrshire Live app is available to download now on iOS and Android.“Furthermore, it appears that, in response to Covid, Brexit and the recession, Worksmart’s customers are tightening their purse strings, with the result that the level of work required to sustain the business no longer exists.” Steve Neilson,