More than 30 manufacturing jobs have been lost in Fife after a specialist building products firm collapsed into administration.
Sips Frames UK Limited – which operated as Sips Eco Panels – was placed into administration after suffering substantial trading losses.
Elias Paourou and David Oprey of CVR Global have been appointed as joint administrators for the business and confirmed that all 40 staff at the firm’s Fife facility and at its head office in Suffolk had been laid off.
The firm manufactured structural insulated panels for use in the housebuilding process at its Viewfield Industrial Estate base in Glenrothes.
The company’s products were sold into both the commercial and private markets.
The administrator’s said the firm’s collapse was not only impacting on employees but also on customers who were in the midst of self-build construction projects and had ordered SIP panels.
Mr Paourou said: “We are in the process of carrying out a full review of the company’s affairs, but unfortunately the company has ceased trading and all staff made redundant while we attempt to find a positive outcome.”