The boss of a major family-run Fife construction group said he is “devastated” after the firm has been liquidated, with more than 50 jobs lost.
Kirkcaldy-based Raeburn Construction was founded by Scott and Sarah Raeburn in 2006.
In 2017, the firm moved to new purpose-built premises in Dunnikier Business Park after an investment of more than £400,000.
Its projects included work for a new clubhouse at Fife’s Dumbarnie Golf Links and two housing projects for Fife Council in Kirkcaldy.
Raeburn Construction was also involved in work at Velux’s headquarters in Glenrothes, building a new car park for the roof window firm.
But a winding-up order has been issued at Kirkcaldy Sheriff Court, stating the firm is unable to pay its debts.
Its workforce of 58 staff have been made redundant.
Reasons behind collapse of Fife business
Mr Raeburn said rises in material costs and labour were behind the demise of the business.
“This has been my life for 16 years – so it’s absolutely devastating,” he said.
“We built a really good set-up with some really good people over the years. It was a good formula.”
He said the Covid-19 pandemic was the starting point of the firm’s difficulties.
“I would say Covid was the catalyst and we’ve been battling since this.
“Restrictions on materials post-Covid added further pain to the whole industry and made it far more difficult.
“It was a cash flow issue, which is what gets most businesses.”
‘It’s always been part of us’
Mr Raeburn said the impact of the collapse of the company had not yet sunk in for him or wife Sarah.
He added Sarah’s business, Raeburn Training, is still trading and remains “vibrant”.
Mr Raeburn added: “The year the company was formed, my youngest daughter was born, and we moved house. That was a big year.
“I don’t think it’s sunk in yet.
“It’s been 16 years of work and it’s always been part of us, but it doesn’t make us.
“We’re not going to let it take us down.”
He added that most of the former Raeburn Construction workforce have found new jobs since the winding up process began last month.
Claire Middlebrook, of Edinburgh-based Middlebrooks Business Recovery & Advice Ltd, has been appointed liquidator.
She said the firm’s debts would be a seven-figure sum, but said the process was in its “very early days”.
A debt recovery agent has been engaged to “maximise the returns to creditors”, she added.
Conversation