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.”
An excellent opportunity exists to purchase the business and assets of a well-established festival business that has built up a successful annual festival in the South East of England. Offers invited.
LEASEHOLD
A sale will be executed at the earliest opportunity. All expressions of interest must be registered by no later than 22 July 2020. An excellent opportunity exists to purchase the business and assets of a well-established commercial lighting contracto...
LEASEHOLD
An opportunity to acquire a UK-based telecoms and IT multi-layered services provider delivering leading edge services to contracted telecoms partners. Successful model operating for over 17 years, in 3 different countries. Significant professional fr...
|
10
|
|
Jul
|
Mobile phone supplier and recycler goes into administration | ADMINISTRATION
Mobile phone refurbishment company Redeem UK has gone into a...
|
09
|
|
Jul
|
John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS
Department store chain John Lewis has said that eight of its...
|
09
|
|
Jul
|
Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS
Chancellor Rishi Sunak has announced a £30 billion pla...
Sign up to receive our acquisition alert emails to get your FREE guide
|
10
|
|
Jul
|
Mobile phone supplier and recycler goes into administration | ADMINISTRATION
Mobile phone refurbishment company Redeem UK has gone into a...
|
09
|
|
Jul
|
Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS
Chancellor Rishi Sunak has announced a £30 billion pla...
|
09
|
|
Jul
|
John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS
Department store chain John Lewis has said that eight of its...
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