The Auchterarder based firm was the largest contractor in Perthshire working on jobs in the Central Belt between Glasgow and Edinburgh from Inverness & Brechin in the North, to Lesmahagow in the South.
Administrators from Alvarez and Marsal are now in charge of the business and work has stopped on all sites.
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Joint administrator Ben Cairns said: “Like other contractors, Hadden Construction has been battling a number of headwinds in recent years, including inflated materials prices, rising labour costs and supply chain interruptions.
“As administrators, we will seek an orderly wind down of the operations and will welcome any investor interest in the company’s assets.”
Hadden Construction was founded in 192 and said its “growth and success has been achieved through a loyal and reliable staff, prudent fiscal policies, and a culture and approach attuned to our client’s needs.”
The company website states: “We work in partnership with a highly respected supply chain, including suppliers and subcontractors who share our partnering ethos and high standards which ensures the delivery of services aimed to exceed our clients’ expectations.”
Latest accounts for the firm for the year to March 31 2023 show a turnover of £30.2m generating a pre-tax profit of £260,503.
In March this year Hadden was appointed by the Scottish Procurement Alliance to its £100m Refurbishment and Modernisation (RM3) Framework.
Hadden was already appointed to SPA’s Public Buildings and Infrastructure (PB3) Framework and New Build Housing Construction (H2) Framework, as well as several other public sector frameworks including Scotland Excel’s New Build Residential Framework, Wheatley Group, Link Group, Hub East Central, Hub South East and The City of Edinburgh Council.
