Construction company set to close

The construction industry has warned thousands of jobs could be lost

A long-established construction firm in the Scottish Borders has blamed the credit crunch for its decision to close its business.

Craigvar Construction in Galashiels is to wind up its operations by the end of the year with the loss of 14 jobs.

Company director Gordon Richardson blamed the current economic situation for the move.

Other building firms in the area have been shedding staff over the last year because of the lack of available work.

Earlier this month, the Scottish Government announced funds to try to help the construction industry.

A £9m package was unveiled which included money for the Borders.

It followed pleas from the house building industry to help the sector.

MSPs heard that up to 30,000 jobs could be lost this year if the situation does not improve.