ADM Construction had to make its workers redundant and halt contracts last Friday.

Alex Murray, the head of the firm, told STV he was “shattered” for his staff.

Employees were told that there was no money to pay their wages for the week – despite the company having around £500,000 of contracts on its books and £1million of orders lined up.

Murray said: “It is a nightmare. This has been a hideous, painful, distressing experience. It was like a death in the family here on Friday.

“There was no money to pay workers’ wages on Friday and a decision was made to call it a day.”

The firm employed tradesmen including bricklayers, joiners, a slater, digger driver, four labourers and five apprentices as well as two office staff.