Jobs lost as Glenrothes manufacturer enters liquidation

Tue, 23 Jan 2018 | BUSINESS SALE

More than 30 jobs are set to be lost at a Scottish manufacturer this week after enormous debts lead to the company entering liquidation.

The staff at Murray and Murray limited, a Glenrothes-based firm known as one of the leading designers and manufacturers of bespoke kitchens and interiors, were all made redundant with immediate effect after directors wound the company up.

It has been reported that creditors have been invited to a meeting in nearby Dunfermline to discuss how they will be paid.

As for customers, however, many have been left with no guarantees that work they have already paid for will be carried out or completed. The Courier spoke to one who has been left with an unfinished kitchen despite paying its £44,000 price in advance.

They explained that trouble began after they had paid 40 per cent of the project’s cost in advance.

They added: “The first thing that happened was that the start date was delayed and then they demanded a further tranche of payment before the starting week, which I queried as I had never worked with a company that demanded such large sums of money upfront.”

The customer was then informed via one of Murray and Murray’s suppliers, a stonecutter, that the firm had been declared bankrupt.

There is yet to be any public information published about the future of the Glenrothes company, its suppliers, employees or customers.

Dunfermline financial firm Thompson Cooper has been appointed as liquidator, however.

A spokesperson for Thompson Cooper said that “various options” were explored by the bankrupt firm’s directors in order to allow it to continue trading.

They added: “Unfortunately, none were viable and the directors were left with no other option but to place the company into liquidation and 38 staff were made redundant.

“Known creditors have been made aware of the liquidation.”


Share this article



Latest Businesses for Sale

Unique Company Specialising in Quality, Scented Products
Warwickshire, UK Wide

This is a reputable and constantly growing company, receiving a significant amount of revenue through both new and existing customers and is ready for large scale expansion. Products are colourful, vibrant and playful and are created using only the f...

Asking Price: Offers Invited
Turnover: £1,600,000

LEASEHOLD


Membranes for Water Containment Solutions
Midlands, UK Wide

Specialises in turn-key water containment solutions, overseeing pond and lake construction, membrane lining and safe drinking water storage. Operates from a leasehold aquatic nursery able to accommodate over 10,000 m2 of coir products. Offers invited...

Asking Price: Offers Invited
Turnover: £1,700,000

Online Luggage Retailer
London, London, UK

Rapidly growing online luggage retail business. Much time, effort and money has been put into the online side of the business, with tens of thousands going into search engine optimisation and Adwords. This is now paying off as the business is a top s...

Asking Price: £799,995
Turnover: £1,700,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
20
 
Nov
 

Customer reviews specialist Feefo completes MBO | MBO/MBI

A company that provides a platform for customer reviews and ...

 
18
 
Nov
 

Kent childcare group sold to national charity | BUSINESS SALE

A Kent childcare group has been acquired by a chain of day n...

 
17
 
Nov
 

Warm Zones enters administration | ADMINISTRATION

A North Shields-based non-profit business dedicated to helpi...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
20
 
Nov
 

Customer reviews specialist Feefo completes MBO | MBO/MBI

A company that provides a platform for customer reviews and ...

 
18
 
Nov
 

Kent childcare group sold to national charity | BUSINESS SALE

A Kent childcare group has been acquired by a chain of day n...

 
17
 
Nov
 

Warm Zones enters administration | ADMINISTRATION

A North Shields-based non-profit business dedicated to helpi...

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