An Aberdeen-based cabling services firm has been placed into administration with the loss of 50 jobs.

Xtreme Business Solutions Ltd, a telecoms infrastructure and networked systems supplier, was founded in 2003 and has offices in Aberdeen and Dalgety Bay.

Iain Fraser and Tom MacLennan, partners with FRP Advisory LLP, have been appointed joint administrators for the company.

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It is understood the administration was caused by rising costs and falling margins, leading to unsustainable cash flow issues. All 50 staff, 31 in Aberdeen and 19 in Dalgety Bay, have been made redundant.

Iain Fraser, Joint Administrator, said: "Xtreme Business Solutions was an established, respected operator in the specialist cabling sector. Unfortunately, the financial issues facing the company could not be resolved and administration was the only option.

"We will work closely with all agencies such as the Redundancy Payments Office to ensure employees receive every support and assistance at this very difficult time."

(LM)