Peterhead firm Surelift UK has folded, with the loss of nine jobs, after running into “serious cash flow problems”.
Provisional liquidator Iain Fraser said Surelift had been unable to overcome “intense competition” and “unsustainable debt levels”.
Mr Fraser, partner at FRP Advisory’s Aberdeen office, said the business had ceased trading and that all staff had been made redundant with immediate effect.
Surelift used to provide lifting products and inspection services to clients in the construction, offshore, ports, engineering and fabrication industries.
In 2014, Surelift announced it had moved into new, purpose-built premises in Thunderton Industrial Estate, Peterhead.
Earlier that year it was bought over by north-east business GCSS.