Blair Nimmo and Alistair McAlinden from Interpath Advisory were appointed as Joint Provisional Liquidators on Friday by the company’s sole director.

The Carluke based firm has been in business since 2014 and worked across a range of sectors including health, education, housing and custodial.

IPC was hit by rising labour and raw material costs, coupled with increasing overheads and problem contracts which severely constrained its cash flow position.

Nimmo said: “The collapse of IPC is another worrying sign of the challenges presently facing the Scottish construction sector and, particularly, subcontractors.

“IPC was a well-known contractor and its insolvency will, unfortunately, not be the last we will see in the early months of 2022.”

McAlinden added “Our immediate priority will be to assist employees with their claims to the Redundancy Payments Office, as well as safeguarding the company’s assets and liaising with IPC’s customers.”