Mon, 28 Jan 2013 | ADMINISTRATION
Precision engineering contract manufacturer Border Precision has entered administration with the loss of 25 employees.
The Scotland-based business is continuing to trade with its remaining 120 staff under the control of accountancy firm Grant Thornton.
The joint administrators – Robert Craven and Stuart Preston - have reportedly said that it is too early to say if the business can be rescued or if a buyer will be found.
Established in 1976, the business trades from an 80,000 sq. ft. factory in Kelso’s Pinnaclehill Industrial Estate, and offers a range of bespoke precision pressings, RFI/EMC Gaskets and prototype manufacturing.
Losses at Border Precision trebled to £645,000 on revenues of £7.1 million for the year ending 31 October 2011. Its directors blamed the firm’s troubles on bringing in new advanced equipment in 2011.
Michael Moore Borders MP said it would be a “great loss” to the local community if the business fails.
“This is why I am urging administrators to work as quickly as possible to find a solution to protect jobs and provide certainty to employees at the firm,” he commented.
This established company offers a unique opportunity for growth with its strong local reputation and secured contracts with local authorities. It operates nationwide, serving diverse sectors including education, food, and motor, and benefits from a h...
This well-established company is a market-leading designer and manufacturer of gauges and reamers, renowned for delivering effective solutions across various complex projects internationally. With exports making up 70% of its turnover and backed by a...
This company offers a unique opportunity in the logistics sector with its specialised two-person, white-glove delivery service, boasting a well-established reputation among retailers. With over 70% of sales driven by organic recommendations and 94% f...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.