NEARLY 250 jobs have been lost with the collapse of Fife interior fit-out specialist Havelock International into administration.
David Baxendale and Zelf Hussain of accountancy firm PricewaterhouseCoopers have been appointed joint administrators of Havelock International, which is based in Kirkcaldy and has specialised in fitting out premises such as shops and offices.
The administrators concluded that it was not possible to continue to operate the business while a buyer was sought, and 247 employees, the vast bulk of the workforce, have been made redundant.
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The long-established Havelock Europa business, which was listed on the stock market for decades, was reborn as Havelock International after being bought out of administration last summer. Last year’s deal had at that stage saved the jobs of a 300-plus workforce engaged in design, manufacture and installation.
Mr Baxendale said: “The company has faced a challenging trading environment for some time, and the directors have concluded that there is no longer any reasonable prospect for the company to continue to trade. “Prior to our appointment, we explored ways that the business might continue to operate whilst a buyer was sought. However, regrettably this has not proved possible and it has therefore been necessary to make 247 employees redundant with immediate effect.”
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He added: “Our priority is to ensure that all employees are assisted in processing their redundancy claims as a priority. We will be in further contact with all staff as soon as possible and will outline the support available to complete redundancy payment forms. Advice and assistance will also be available from JobCentre Plus and PACE (Partnership Action for Continuing Employment).”
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PwC said that a small number of employees had been retained to assist the joint administrators in “managing the activities of the business to an orderly closure and maximising realisations for the company’s creditors”.
It added that the administrators would work with employees, clients and suppliers to “facilitate a smooth and effective wind-down”.
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