BUYOUT SAVES JOBS AT FACILITIES MANAGEMENT FIRM

Dundee-based contractor McGill has been bought by Galashiels-based SPG Fire & Security Ltd after the firm entered administration for the second time in less than four years.

Filings at Companies House show the company, lately registered as McGill Facilities Management Ltd, appointed an administrator on last week.

The firm submitted a notice of intent to appoint administrators with the Court of Session at the start of the month. Interim liquidators at William Duncan (Business Recovery) Limited were then appointed.

Weeks of uncertainty were brought to an end when workers were informed at lunchtime on Thursday at the company’s Harrison Road headquarters that McGill Facilities Management Limited is now in administration.

Barry Stewart and George Lafferty of Leonard Curtis, who were appointed joint administrators, said some jobs have been rescued after the fire and security division of the company was successfully sold. SPG Fire & Security Ltd intends to continue operations and service the division’s customer base.

Operating to a tight timescale, the joint administrators – with particular assistance from the company’s director – marketed the business and assets to a wide and relevant audience; liaising with a number of interested parties.

Leonard Curtis’ Barry Stewart (pictured above) said: “The company had been struggling with regards to cash flow in particular for a period of time and despite accessing Government assistance via the Coronavirus Business Interruption Loan Scheme, insolvency was unavoidable and the business was marketed for sale.

We are pleased to say this process resulted in the going concern sale of the fire and security division which will assist in maximising realisations for creditors whilst protecting a number of jobs.”Errol Lawrie, McGill Facilities Management Ltd director, added: “This has been a particularly difficult period for all the employees and customers and whilst it is disappointing that we were unable to save the whole business it does give me some comfort we were able to save this division and a number of local jobs.”