Wed, 23 May 2012 | MBO/MBI
Administrators Zolfo Cooper have announced that they are to sell off one of the divisions of the UBC Group after the business ceased trading earlier this month.
Wyvis Roofing Limited is to be sold to its former management, led by Ian and Willie Sharp. The news means that 30 jobs will be saved and the business will be able to continue trading.
Unfortunately, the majority of the UBC Group ceased trading following the administration, which is being overseen by Elizabeth Mackay, Fraser Gray and Anne O'Keefe, partners at Zolfo Cooper. The decision was taken after an in depth analysis of the group's financial position confirmed that as a whole it was unsustainable.
Ms Mackay was pleased, however, to announce that at least Wyvis could be saved, stating: “We are very pleased to be able to announce this sale and the attendant preservation of jobs.” She added that the assistance of the Scottish enterprise minister Fergus Ewing and others was “instrumental in allowing the business to continue as a going concern”.
Willie Sharp, managing director of Wyvis Roofing, added: “We are of course delighted that Wyvis Roofing can continue with business as usual and the entire team are now all 100 per cent focused on taking the business forward as a standalone entity.”
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