Fri, 11 Jul 2025 | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has fallen into administration, with administrators now seeking to maximise returns for creditors. The majority of the company's workforce have been made redundant following the collapse of Greenfold Systems Limited, with the administration attributed to the loss of a key contract.
Greenfold Systems operated from premises at Pitreavie Business Park, providing manufacturing and assembly services to the commercial vehicle industry. The firm had built several longstanding relationships across the sector, with a significant part of its business supporting bus manufacturing company Alexander Dennis Limited.
However, the company recently suffered the withdrawal of this contract, rendering the business unsustainable. As a result, Callum Carmichael and Michelle Elliot of FRP Advisory, as well as Shona Henderson of Henderson Loggie, were appointed as joint administrators of the company on July 10.
Following their appointment, the joint administrators are progressing an orderly wind down of Greenfold Systems’ operations, including a sale of its assets. 81 employees, out of a total workforce of 90 staff, were made redundant upon the company entering administration, with the remaining nine staff retained on a short-term basis to complete work on a customer contract.
FRP partner and Greenfold Systems joint administrator Callum Carmichael said that the company was a “well-regarded business that had carved out a specialist role in the commercial vehicle supply chain.”
"Unfortunately,” he added, “the loss of a major customer contract had an immediate and severe impact on its financial position. Our priority now is to support the affected employees and to maximise returns for creditors.”
In the company accounts for the year ending September 30 2023, Greenfold Systems' fixed assets were valued at £1.1 million and current assets at £1.9 million, with total equity amounting to slightly over £580,000.
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