Carlisle-based Border Steelwork Structures (BSS) has fallen into administration with the loss of 43 jobs.
Founded 45 years ago, the £9m turnover firm specialised in structural steelwork and steel cladding, operating out of offices in Annan and Carlisle.
Administrators from FRP Advisory said BSS had faced ‘unsustainable financial and cash flow problems stemming from a marked downturn in contracts and rising operational costs’.
The firm has ceased trading and the joint administrators will now market the business and assets for sale, which includes plant, machinery and a workshop in Annan.
Michelle Elliott, partner at FRP Advisory, said: “Unfortunately, the business has been severely affected by a dramatic downturn in contracts and income and despite the best efforts of the directors to effect a turnaround, administration was the only option.
“We will now focus on providing every possible support to the staff for claims to the Redundancy Payments Office and accessing support agencies and would ask interested parties to contact us promptly.”
Parties interested in BSS assets should contact the Glasgow office of FRP Advisory as soon as possible.