MANAGING directors and Insolvency Practitioners Craig Morrison and Ian Wright from the Edinburgh and Glasgow offices of cross-border advisory firm Quantuma, were appointed as Liquidators for Scotland-based Royal Oak Tree Services Ltd on 25 March 2024.
Located in Arbroath, near Dundee, the single site Royal Oak Tree Services was established in 2019 and employed a team of seven staff. As arborists and tree surgery specialists, the core of the business was forestry work, but it also had a circa £1million contract with Amey for grass verge cutting.
In prior years the Amey contract was loss making, however the directors had recently managed to resolve the issues and were confident that they would be able to generate sufficient cashflow to meet creditor obligations, including being in the process of agreeing payment plans. However, in March 2024, pressure from creditors disrupted their ability to service their major contract and this resulted in employees walking off site.
The business has now ceased to trade, closing immediately prior to winding up, and all roles at the business have now been made redundant.
Quantuma managing director and Joint Liquidator Craig Morrison said:
“It is deeply regrettable that Royal Oak Tree Services has been forced to cease trading, due to a series of challenging circumstances. A combination of cashflow related challenges has seen the business unable to continue. As Joint Liquidators, our immediate priorities have been to provide appropriate support to those whose jobs have been affected.”
