The family firm has been trading for more than 60 years from its head office in Helensburgh on the west coast of Scotland.
The company provides building services across the country including, social housing, local authority work, commercial construction and private and residential contracts.
But a cashflow crisis combined with contract delays and the rising cost of raw materials and skills shortages have sunk the business.
Stewart and Shields has now ceased to trade and the company’s 15 employees have been made redundant.
Blair Nimmo, chief executive of Interpath Advisory and joint provisional liquidator, said: “The collapse of Stewart and Shields Limited is another indicator of the challenges and economic headwinds currently facing the Scottish construction sector.
“The Directors fought hard to save this long-standing family-run business, but the construction industry has experienced several challenges over recent years, with rising raw material costs, supply chain disruption and labour challenges putting businesses under increased pressure.”
Alistair McAlinden, head of Interpath Advisory in Scotland and joint provisional liquidator, added: “Our priority is to assist those members of staff who have been made redundant, providing them with the information and support they need to claim their statutory entitlements from the Redundancy Payments Office, as well as to support the owners, for whom this is also a very difficult time.”
