The Inverurie-based firm ceased trading with immediate effect on May 4 and all 11 employees have been made redundant.

Joint administrators Iain Fraser and Tom MacLennan, partners at FRP Advisory LLP, were appointed to sell on the assets of the 22-year old firm.

According to Companies House, Tor Ecosse, which took part in the Scottish Government’s Help to Buy scheme, had secured its debts against numerous houses and plots of land, with a total of 24 securities still outstanding.

Royal Bank of Scotland and the Scottish Ministers are among its creditors.

Joint administrator Iain Fraser said: “Tor Ecosse was a well-established developer in Aberdeenshire, but unfortunately the financial issues the company faced could not be resolved, resulting in it entering into administration.”