The family-run business was established in 2007 and just last year acquired Dougal Walker Electrical Contractors. Its services include designing, building and installing ATMs, refurbishing and recycling ATMs, and providing security protections for ATMs.

The company is set to be placed into creditors’ voluntary liquidation from 17 July 2023.

A spokesperson for FA Simms & Partners told Scottish Financial News: “The majority of the workforce were made redundant on 27th June 2023. A skeleton staff remains in place to assist with the closure of the company.

“The directors had sought alternative options for a number of months but regrettably liquidation ultimately proved to be the only viable option.”

ATMRC managing director Andy Edgar told The Courier that the business had struggled to recover from the impacts of the pandemic and Brexit before facing a sharp increase in energy bills.

He said: “We went from £2,600 a month to £12,500 a month – that happened last summer. It had been one blow after another but that was the final nail in the coffin.”