Major UK construction access company goes belly up

Nearly forty jobs have been lost as a well-known construction access company collapses. 

Specialist access equipment supplier Adastra Access Limited has stopped trading after precipitous trading losses. 

The company had historically enjoyed a strong order book and was one of the UK’s largest access equipment suppliers. 

But in recent years Adastra faced significant operational, health and safety, and financial headwinds, resulting in lost trade and diminished cashflow. 

Shareholders and senior management fought to safeguard the future of the business, including acquiring recent funding. 

But its financial position had deteriorated such that the business was no longer considered viable. 

Blair Nimmo and Alistair McAlinden from business management consultant Interpath Advisory have now been appointed joint administrators of the company. 

Thirty-eight employees have now been made redundant, with two retained by Interpath Advisory in the short term to help with the administration process. 

From its Glasgow HQ, Adastra provided mast climbing work platforms and suspended cradles to blue chip firms operating across commercial and residential sectors, maintenance and refurbishment projects, and maritime transport. 

The company’s turnover increased by 15% to £5.43 million in 2021 from £4.7 million in 2020. EBITDA that year rose to £2.66 million from 1.8 million in 2020. 

After tax profit for 2021 was £850,992 (2020: £429,012). 

“The collapse of Adastra Access Limited is another indicator of the challenges and economic headwinds currently facing the Scottish and UK construction sector and in particular, subcontractors,” said Nimmo. “The directors fought hard to save this business, but it was ultimately impossible to mitigate the impacts of labour shortages, rising costs and delays to customer projects.” 

McAlinden added: “Our priority is to assist those members of staff who have been made redundant, providing them with the information and support they need to claim their statutory entitlements, as well as to support the directors and ultimate owners, for whom this is also a very difficult time.  

“We are in contact with various government support agencies, including Partnership Action for Continuing Employment, who are also fully committed to assisting impacted employees.” 

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