Scottish construction and civil engineering group Torith has entered administration, with more than 80 jobs expected to be lost.
The Drumoig-based company, which has been involved in a string of building projects around Dundee for the past 30 years, yesterday appointed administrators Ernst & Young, who are understood to have told workers they were not required for work from today.
Ernst & Young’s Andrew Davidson said the firm has been severely impacted by the recession and that directors had decided it was unviable for it to keep trading.
He said he and colleague Colin Dempster were assessing the state of the business, but confirmed redundancies would have to be made.
It is understood workers will not find out about their redundancy packages until after Christmas.
The company was founded in Dundee in 1975 by local businessmen Douglas Smith and Alan Torbet.