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.