John McGavigan Ltd, a major supplier to tier 1 manufacturers in the car industry, has gone into administration.
The Scotland-based firm makes, assembles and supplies dashboards, speedometers, and temperature gauges for cars. The well-known business was founded in 1922, and has yearly revenues of £9m.
The business is to continue trading while the administrators at KPMG seek a buyer. Eleven of the 135-strong workforce at its factory in Bishopsgate, Scotland, have been made redundant.
McGavigan had been hit by a fall in demand in the car industry, and attempts to secure additional funding have been unsuccessful.
The company is part of the US-based Advanced Decorative Systems Inc group.
Labour MSP for Strathkelvin & Bearsden, David Whitton hopes the business and the employees' jobs will be saved.
Blair Nimmo of KPMG would urge interested parties to make their expressions of interest known as quickly as possible.
