Kilmarnock-based firm A J Clark Group has gone into receivership, The Scotsman has reported.

In a statement released over the weekend, the company's directors said the civil engineering firm had been placed into receivership on Friday.

It said late payments by some of its customers as well as a squeeze on profit margins were to blame for the collapse.

They said: "Over the past four or five years, A J Clark has been relentlessly squeezed by slow-paying customers and a decrease in the profitability of its building contracts.

-- Advertisement --

"Against this challenging background, the directors and staff of A J Clark have worked tirelessly to keep the company trading in the hopes of better times.

"Sadly, the directors have concluded that, with little sign of an improved business environment and a forecast shortfall in future orders, they had no option but to take the appropriate steps to cease trading."

AJ Clark has previously carried out work for Lidl, Rolls-Royce, Asda and Diageo.

It employed 62 staff and had a turnover of £19.5m in the year ending April 2011.

Alan Brown from accountancy firm PWC has been appointed as the receiver of AJ Clark and administrator of house-building sister firm, ATD Developments.

(JP)