Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Scottish stone supplier enters administration

A leading supplier of Caithness stone has gone under with RSM Tenon appointed as administrator.

Caithness Stone Industries had supplied Caithness stone to commercial businesses and contemporary building projects, including the Scottish Parliament and the British Memorial Garden in New York.

It had also diversified into supplying the residential market by launching a range of new stone-based products for kitchen, bathrooms, gardens and furniture.

The company had operated three quarries for excavating the stone and for processing and despatching the finished stone. 

It had a turnover of just over £3m in 2012.

Administrator RSM Tenon said a combination of increasing competition, heavy investment expenditure and rising operating costs had resulted in severe and unsustainable cash flow problems.

RSM Tenon joint administrator Iain Fraser said: “Caithness Stone Industries had a high profile as one of the leading suppliers and processors of Caithness Stone.

“The company invested heavily in new technology in order to improve the efficiency of extraction and processing, and successfully diversified into new residential markets.

“We will now undertake a thorough review of Caithness Stone Industries Ltd, the results of which will determine the next steps for the administration,” he added.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.