Almost 100 jobs lost as engineering firms collapse – Daily Business

AIM’s West Carron Works facility

Almost 100 jobs have been lost after two engineering companies in central Scotland called in adminstrators.

AIM Engineering & Fabrication Group and Hescott Engineering Company operating from Falkirk and Larbert, struggled with rising costs.

The companies delivered steel and metalwork design engineering, fabrication, construction and industrial services, alongside site installation.

Their work spanned the construction, petrochemical, oil and gas and industrial processing sectors, supported by a tier one customer base. AIM Group was established in 1984 and Hescott four years later.

In common with a number of other organisations operating across the building and construction supply chain, challenging trading conditions were exacerbated by the loss of a major customer. ]

The directors of the businesses took various steps to address these challenges, but ultimately, the financial position of the companies became unsustainable. Alistair McAlinden and James Dewar from Interpath were appointed as joint administrators on Friday.

The companies have now ceased trading and 93 employees have been made redundant.

Mr McAlinden, joint administrator and head of Interpath in Scotland, said: “These administrations come against a backdrop of sustained turbulence across the construction and engineering supply chain, where rising costs, tightening margins and the loss of key contracts have created acute financial strain.

“We recognise this is a particularly difficult time for the companies’ workforce, and our thoughts are with all those who have been made redundant. Supporting them through the claims process and helping them access the assistance available will be our immediate priority.”

Any parties interested in the companies’ business and/or assets are urged to contact the joint administrators as soon as possible.

#jobs #lost #engineering #firms #collapse #Daily #Business