Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Steel fabrication firm enters administration

Steel fabrication firm enters administration

Thu, 16 Aug 2018 | ADMINISTRATION

Rippin Limited, a Scottish structural steel manufacturer, has been placed in administration after citing cash flow strains as the reason for its downfall.

Located in Cowdenbeath, Fife and in operation since 1974, the company provides services across the whole of Scotland and the north of England and caters specifically to the British construction industry.

While its main services were in steelwork, Rippin also supplied and installed metal decking and stairways. The majority of its construction services were in the new-build sector, and the company also worked to provide specialist complex extensions to existing buildings.

Due to the administration, however, the company has stopped trading, which has affected its staff members in consequence. The business recently reported financial strains due to customers refusing payments following contractual disputes, as well as a steep decline in orders from clients.

Big Four auditors KPMG LLP have been called in, and partners Blair Nimmo and Alistair McAlinden have been appointed as joint administrators who will be working with all relevant staff members to conclude Rippin’s operations.

The administrators are also on the hunt for interested individuals to make an offer for the assets in the form of stock and plant equipment.

Nimmo, who is also the global head of restructuring at KPMG, said: “In light of challenging trading conditions and significant cash flow difficulties, Rippin was unable to continue trading.

“We will be working with all the affected employees and the relevant government agencies to ensure the full range of support is available. We will also be exploring the possibility of securing a sale of the company’s assets and would encourage any interested parties to contact us as soon as possible.”

Click here to view the administration listing and the insolvency practitioners' details.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Paving & Drainage Contractor
Merseyside, North West, UK

Well established and lucrative Paving and Drainage Contractor. Leasehold/Freehold option available. Convenient and accessible trading position, loyal customer base. Predicted increased turnover £900k (y/e 30.04.20), consistently strong profits, impre...

Asking Price: £675,000
Turnover: £781,539

LEASEHOLD


Independent Building Contractor
UK Wide, Scotland

The Company is a highly regarded building contractor, predominantly providing its services to clients in the commercial and retail sectors. The Company has experienced considerable growth since its foundation, with the strength of its workforce and s...

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD


Manufacturer & Installer of Bespoke Retail Interiors
East Midlands, UK

The company specialises in the design, manufacture and installation of bespoke retail interiors. Operates on an international basis. Currently works with over 60 active clients, 95% of whom provide reliable, repeat business.

Asking Price: Offers Invited
Turnover: £6,000,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Jan
 

Injection moulding business sold out of administration to employees | BUSINESS SALE

Conwy-based injection moulding company A2B Plastics Limited ...

 
18
 
Jan
 

AFH Financial Group ready to return to acquisition trail in 2021 | BUSINESS NEWS

In its yearly report to October 2020, wealth manager and adv...

 
15
 
Jan
 

Buyer sought for portfolio of pubs | BUSINESS SALE

Five pubs that formerly operated under the Authentic Alehous...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
09
 
Dec
 

Administrators seek buyer for garden machinery firm | ADMINISTRATION

Shropshire-based garden machinery company Oakley’s has...

 
19
 
Oct
 

Ford tuner Mountune saved in acquisition by founder | BUSINESS SALE

Essex-based Mountune, a firm specialising in tuning packages...

 
18
 
Aug
 

Ford performance part specialist seeking buyer or investment | BUSINESS SALE

Mountune, an Essex-based company specialising in the manufac...

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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Daily Financial Alerts
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.