Wallace McDowall jobs saved as business sold – Daily Business

Rescued: jobs retained at Ayrshire firm

Jobs have been saved at sheet metal manufacturer Wallace McDowall after the administrators sold the business and assets to a new company, believed to involve previous management.

Hilary Pascoe and Mike Dillon from Leonard Curtis were appointed joint administrators at the Ayrshire company on 22 May.

At the time of appointment, the business employed 56 people, all of whom transferred to the purchaser on completion of the sale.

In the last 12 months, the renamed company WMCD Realisations 2026, suffered a significant decline in the volume of orders from its two main customers, which represented 50% of its order book.

Ms Pascoe commented: “The introduction of tariffs imposed by the US in April 2025 has put already tight margins under further pressure, forcing many companies in the UK to re-evaluate their cost base.

“In the lead up to the Administration credit insurance from various suppliers had also been withdrawn which placed further strain on the company’s working capital and cashflow.”

During the sale process the joint administrators engaged with key customers and stakeholders to obtain their support and ensure that commercially viable terms were in place for all parties to secure the longer-term viability of the business.

The joint administrators were supported by Bermans acting as solicitors, as well as Cerberus Receivables Management (CRM) and Cerberus Asset Management (CAM) as agents.

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