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.”
Offers an extensive range of specialist property development solutions. Provides a multitude of security systems, including installation and maintenance. Works with circa 140 active clients, 85% of whom provide repeat business. Offered for sale to fa...
FREEHOLD
Company 1: High-end designers and makers of furniture and kitchens to both private individuals, and commercial clients. Fully bespoke and high value work. Company 2: A highly recognised brand, sheet materials cut to size, edge-banded and spray finish...
LEASEHOLD
Supplies a range of products, including crates, beds, leads and toys to private and trade customers across the UK and internationally. The company owns the full product ranges and IP for brands of dog identification tags which can be engraved in-hous...
LEASEHOLD
|
31
|
|
Mar
|
Coronavirus Business Interruption Loan Scheme to cover business acquisitions | BUSINESS NEWS
The UK government has launched the Coronavirus Business Inte...
|
30
|
|
Mar
|
Tech group The Panoply acquires consultancy firm Ameo | BUSINESS SALE
Business consultancy firm Ameo has been acquired by AIM-list...
|
27
|
|
Mar
|
Addison Lee acquired by consortium of investors | BUSINESS SALE
Addison Lee Group, London’s biggest private care hire ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
31
|
|
Mar
|
Coronavirus Business Interruption Loan Scheme to cover business acquisitions | BUSINESS NEWS
The UK government has launched the Coronavirus Business Inte...
|
30
|
|
Mar
|
Tech group The Panoply acquires consultancy firm Ameo | BUSINESS SALE
Business consultancy firm Ameo has been acquired by AIM-list...
|
27
|
|
Mar
|
Addison Lee acquired by consortium of investors | BUSINESS SALE
Addison Lee Group, London’s biggest private care hire ...
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