Dundee firm goes under with loss of 99 workers

A Dundee-based electrical services business has gone bust with the loss of 99 jobs.

Vasanat International, which had been trading as Scottish Electric Group, is said to have faced “prolonged cash flow pressure”.

The company – based in Dundee Technology Park – was placed in provisional liquidation on Tuesday, it was confirmed yesterday.

Provisional liquidator Donald Mcnaught of accountancy and business advisory firm Johnston Carmichael said: “Our main objective going forward will be to preserve value in the Scottish Electric Group’s remaining assets to maximise the return to creditors.

“Unfortunately, the process has resulted in job losses and we will work with the relevant government agencies to ensure employees are provided with the appropriate support.”

Mcnaught, who is a restructuring partner at Johnston Carmichael, said the business had faced prolonged cash flow pressure which, despite the efforts of management, it had been unable to overcome.