The firm Northsouth Communication which was based in the Lochgelly Miners Institute has went into receivership with a loss of 126 jobs, most of which were outside of Fife.
Northsouth Communication was most recognisable for providing CCTV systems for Scotrail and were also responsible for facility maintenance.
Northsouth Communication was successful in winning a contract with Scotrail to provide electrical maintenance to CCTV systems at 130 stations, and maintenance services for electronic vending machines at 101 stations, which the firm had hoped would help double their work force.
The firm had hoped to double their workforce but were unable to meet their own targets, and trading ceased on Friday the 23rd January.
The administrators, Baker Tilly are now in the process of helping workers to make claims to the Redundancy Payments Office and local councillor Ian Chisholm has stated;
My thoughts are with the families of those who have lost their jobs and I have been in touch with Annabelle Ewing MSP to see what support the Scottish Government can give.