Two Scottish engineering companies have collapsed into administration.
The companies in Falkirk and Larbert have ceased trading and 93 employees have been made redundant.
Alistair McAlinden and James Dewar from Interpath were appointed as joint administrators to AIM Engineering & Fabrication Group Limited and Hescott Engineering Company Limited.
Operating from Falkirk and Larbert, the companies delivered steel and metalwork design engineering, fabrication, construction and industrial services, alongside site installation.
Their work spanned the construction, petrochemical, oil and gas and industrial processing sectors, supported by a tier one customer base.
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The administrators said: “In common with a number of other organisations operating across the building and construction supply chain, the companies had experienced challenging trading conditions in recent times, which were exacerbated by the loss of a major customer.
“The directors of the businesses took various steps to address these challenges, but ultimately, the financial position of the companies became unsustainable. As such, the difficult decision was made to place the companies into administration.
The administrators also said that the companies have now ceased to trade and “regrettably, 93 employees have been made redundant”.
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The administrators “will be providing all available support to them as a matter of priority, including supporting them with claims for monies owed from the Redundancy Payments Service”.
Mr McAlinden said: “These administrations come against a backdrop of sustained turbulence across the construction and engineering supply chain, where rising costs, tightening margins and the loss of key contracts have created acute financial strain.
“We recognise this is a particularly difficult time for the companies’ workforce, and our thoughts are with all those who have been made redundant. Supporting them through the claims process and helping them access the assistance available will be our immediate priority.”
Any parties interested in the companies’ business or assets should contact the administrators “as soon as possible”.
