Almost 120 jobs have been lost after a company that specialises in providing road barriers and signage entered administration. Apex Traffic Management Limited, based in Uddingston in South Lanarkshire, has ceased trading with a petition lodged at Hamilton Sheriff Court to dissolve the company, according to STV.

On Thursday, Kenneth Craig and Kevin Mapstone of Begbies Traynor were appointed joint administrators. As a result, 119 jobs across Scotland and England have been lost.

The firm, which had a revenue of £9.7m, primarily provided traffic control equipment and services for roadworks and customers included Transport Scotland, Highways England, Amey Construction and Lanes Group. Apex had expanded in recent years to provide traffic management servics to venues such as Hamilton and Ayr Racecourses, as well as The Open at Royal Troon.

The firm also operated more than 150 sets of roadwork traffic lights.

The joint administrators and Thomas McKay, a partner at Begbies Traynor, will now supervise the consultation process with staff, and oversee the liquidation of the business and its assets.

Mr McKay said: “The directors had little choice but to place the business into administration after receiving a petition by HMRC for liquidation, and after consultation with the firm’s secured creditor Lloyds Commercial Finance.

“Tightening margins, slower debt recovery and resulting cash flow challenges, as well as increased costs of trading, especially higher minimum wage and Employers’ National Insurance Contributions, had led to the firm being unable to meet its ongoing obligations and the business was simply not viable.”

He added: “Apex was a highly regarded provider of traffic management services on roads and highways across the UK, and we are working closely with all their customers to help ensure that, where ongoing projects were being delivered, these customers can find alternative suppliers to ensure safe operation of the highways.”

(Pic: Apex Traffic Management)