Sixty-six members of staff were made redundant when the company closed its doors for the final time in September, citing rising labour costs and inflation on buying materials for the collapse.

Joint administrators Ben Cairns and Jonny Marston from Alvarez & Marsal were appointed to wind down the company’s operations.

In a new update to Companies House, Alvarez & Marsal revealed unsecured creditors were owed £6.7m at the time of Hadden’s demise.

According to the update, it is “highly unlikely” that the unsecured creditors will be paid.

The administrators stated: “Based on current estimates, it is highly unlikely that there will be a dividend to unsecured creditors as realisations achieved from the compnay’s floating charge assets will be insufficient to meet the costs of realisation and the preferential claims detailed above.”

Auchterarder-based Hadden Construction was founded in 1992. The 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.

The company secured a £1.9m design & build contract in April to deliver 10 affordable homes for rent in Newtyle for Abertay Housing Association and was working to replace 20 chalets on a permanent Gypsy Traveller site near Perth.

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.

Elsewhere, Hadden had undertaken work at the University of Stirling’s Muirhead House student accommodation as part of a £6.25m refurbishment.

The Ferguson Veterinary Clinic in Glenrothes and the Edward Lawson Centre in Wishaw were also among the company’s active developments.