Wylie & Bisset appointed as liquidators of Worksmart Contracts

Wylie and Bisset, accountants and business advisors, has been appointed as liquidator of Worksmart Contracts.

Based in Kilmarnock with a 24-strong workforce, Worksmart is a commercial interior fit-out and refurbishment contractor for clients operating across a wide range of industrial sectors, including the Scottish Government.

Commenting on the appointment, Wylie and Bisset managing partner Donald McKinnon, said: “Following Worksmart’s turnover falling from circa £9 million to around £5/6m during the pandemic, the directors have arrived at the regretful decision to wind up the business as soon as practicably possible.

“Worksmart’s directors have reached the view that the business cannot continue to trade due to a number of factors; competition is fierce and profit margins have been squeezed to the extent that the business is no longer financially sustainable.”

Steve Neilson, managing director, Worksmart Contracts, added: “Over the past few years, Worksmart has been challenged by several external factors, including recession, Brexit and, more recently, the ongoing covid pandemic.

“The consequences of these factors have resulted in persistent cost increases for the business, including in materials, labour, utilities, and fuel resulting in the highest inflation rate in over 40 years. This increase in business operating costs has been coupled with recent National Insurance and tax increases.’