Wed, 16 Nov 2011 | DIVISION SALE
Administrators for troubled Scottish glazier, AC Yule, have confirmed that they are in negotiations with a potential buyer for part of the firm, but are still attempting to find buyers for the rest of it.
The Business Sale Report previously covered that the firm had fallen into administration at the beginning of last week, and Blair Nimmo and Gary Fraser from KPMG Scotland had been appointed to handle the process.
Mr Nimmo confirmed this week that discussions were being held with the company's managing director, Brian Yule, for him to buy up the company's branch in Elgin. Mr Nimmo said, however, that the rest of the company was still for sale, and that they were becoming increasingly pressed to find a buyer or buyers.
"We are open to offers for the remaining aspects of the business, but things are not looking positive at the moment," he stated.
Some 230 jobs were lost last week when the company's operations in Aberdeen, Elgin, Forfar, Livingston and Boldon in England ceased trading. The business had been one of Scotland's most reputable glazing firms but had fallen victim to slow demand from new-build developments and increasingly difficult trading conditions.
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