Terry Healy, building and home improvements firm, fails, staff made redundant
By Ian McConnell
A SCOTTISH building and home improvements business has fallen into liquidation, with all 51 staff made redundant.
Callum Carmichael and Chad Griffin, partners with FRP Advisory, have been appointed joint provisional liquidators of Dalkeith-based Terry Healy Group. Founded in 2014, Terry Healy Group provided a full range of building, electrical, heating, roofing, renewable and plumbing services to trade and domestic clients. The company also supplied windows and doors and operated a 24-hour emergency repairs and maintenance service.
The provisional liquidation has been caused by unsustainable cash flow problems stemming from liabilities built up during the Covid-19 pandemic, soaring labour and raw material costs, shrinking margins, delays to contracts, and slow payments, FRP Advisory said.
It added: “In spite of extensive efforts to effect a turnaround, the trading position had become untenable, and provisional liquidation was the only option. The business has ceased trading with immediate effect and all 51 staff have been made redundant. The joint provisional liquidators will provide every assistance to those affected, including helping with redundancy payment claims and accessing third-party support services.”
Mr Carmichael said: “Terry Healy Group had grown rapidly into one of the high-profile and respected multi-trades home improvement businesses in the east of Scotland. Unfortunately, the business has been unable to overcome very serious financial problems and closure was the only option. We will now focus on asset realisations including the sale of the heating maintenance contracts database.”
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.