Dozens of jobs lost at repair business
A haulage repair company has gone into liquidation with the loss of 50 jobs.
Glasgow based Colin Hutton was started in 1977 but has suffered a drop in sales in recent years due to rising fuel prices and a reduction in road haulage.
Two staff have been retained to help liquidators from Begbies Traynor sell the assets of the business.
However Begbies has warned there is likely to be a large shortfall in funds to pay debtors as much of the assets of Colin Hutton were leased.
Ken Pattullo, from Begbies Traynor, said: "Regretfully we were unable to try and trade this business to sell as a going concern.
"The debts were on such a scale, and the ongoing trade levels were so low that it was simply not viable in its current guise.
"The business had traded well for over 30 years, but the economic downturn, and continued falling revenues from the commercial vehicle sector led to the firm's failure."
Industrial auctioneer Sweeney Kincaid has been appointed to sell Colin Hutton's vehicles, plant, machinery and tools.