Scottish engineers BiFab prepare for administration

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


Share this article



Latest Businesses for Sale

Temperature-Controlled Van Conversion Specialists
UK Wide

A genuine independent specialist, regulated by the FCA and SAF, the business has negotiated discount terms with a range of leading manufacturers. Our client is also an approved, authorised installer and repairer for high-profile suppliers into the au...

Asking Price: Offers Invited
Turnover: £12,000,000

Specialist Seating Manufacturer
UK Wide

Manufactures a range of specialist seating for those with debilitating conditions, including neurological conditions, along with specialist paediatric care chair manufacturing. Unlimited bespoke manufacturing capabilities. Offers invited.

Asking Price: Offers Invited
Turnover: £941,000

LEASEHOLD


Electronic Cigarettes, Vaporisers & E-Liquids Distributor
UK Wide

Provides own-brand e-liquids as well as manufacturing for other e-liquid suppliers. Additionally, the company retails third-party e-liquids and hardware alongside the sale of raw materials. Main client base are private customers with the company also...

Asking Price: Offers Invited
Turnover: £3,700,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

 
17
 
Sep
 

Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE

Impact REIT has successfully acquired Cardinal Healthcare, a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

 
17
 
Sep
 

Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE

Impact REIT has successfully acquired Cardinal Healthcare, a...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources