Mon, 13 Nov 2017 | ADMINISTRATION
Leading Scottish engineering company, Burntisland Fabricators, is on the verge of calling in administrators, it has been revealed.
BiFab builds large scale equipment for the offshore oil and gas industry, as well as platforms for offshore wind turbines and tidal generators from their yards in Fife and Arnish.
Recent cash flow problems have taken their toll on the company, however, who employ around 600 people. They have recently filed papers to begin the process of entering administration.
Only a year ago, BiFab secured a £100m contract for the manufacture of 26 offshore wind turbine jackets from the Dutch contractor Seaway Heavy Lifting (SHL), part of the £2.6bn Beatrice Offshore Windfarm Ltd Bowl project in the Outer Moray Firth led by energy giant SSE. However fortune has not smiled on them in the time since.
The failure of the business would put the local community in peril, as well as damaging the Scottish economy as a whole.
GMB Scotland Secretary Gary Smith said: "It goes without saying that our members demand urgent answers from the employer about how it has ended up in this position less than a year after securing such a significant contract.
"We are in contact with the Scottish government and the possibility of losing over 600 highly skilled and decent paid jobs doesn't bear thinking about.
"Letting these workers and their communities go under is not an option."
It is hoped the Scottish government will take immediate action to keep BiFab afloat and save these jobs and skills.
Subscribe to the Business Sale Report
Search businesses in administration
This business has established a strong brand within its market place in over 20 years of trading. The owners have built a strong team to operate the business on a day to day basis. Offers invited.
LEASEHOLD
Designer and manufacturer of bespoke glass products such as splashbacks, shower enclosures, balustrades, staircases, curved glass, mirrors, reception desks, worktops, tables and giftware. Extensive in-house design and glass manufacturing capabilities...
LEASEHOLD
Utilises state-of-the-art machinery and considerable in-house expertise to develop highly effective and reliable products. Globally recognised brand, with an excellent reputation. Offers invited.
FREEHOLD
|
15
|
|
Nov
|
Carpetright agrees to shareholder takeover deal | BUSINESS SALE
Carpetright has agreed a deal to be taken over by its larges...
|
14
|
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
Sign up to receive our acquisition alert emails to get your FREE guide
|
15
|
|
Nov
|
Carpetright agrees to shareholder takeover deal | BUSINESS SALE
Carpetright has agreed a deal to be taken over by its larges...
|
14
|
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources