Administrators have confirmed that 60 staff members have been made redundant at Penman Engineering Ltd in Dumfries.
15 jobs currently remain at the firm.
The company went into administration on 31 August 2016.
Penman had been in business since 1859 and employed around 140 people.
The administrators, Armstrong Watson, released this statement:
Yesterday (Thursday 29 September 2016) was a very significant day in the administration of Penman Engineering Limited. Whilst all staff have been working very hard and co-operating fully with the administration team on site to move trading forward the decision had to be taken by the administrators to make 60 staff redundant. Delays in receipt of certain funds from customers meant that the administration did not have the cashflow to maintain a workforce of 75 people, and could not make the various payments to employees at the time normally expected by employees under their contracts of employment. The administrators have been seeking recovery of those funds from customers, and will continue to do so. All staff affected will be kept informed and payments will be made as soon as funds become available.
15 employees have been retained by the administrators to help complete various tasks relating to the collection of remaining debts and the ongoing sale of the business.
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Unions and politicians say they are doing all they can to protect 140 jobs at a Dumfries firm, which has entered administration.Read the full story ›
Politicians and a trade union have pledged to try and save a Dumfries firm which specialises in armoured vehicles.
Penman Engineering, which has 140 staff, went into administration on Wednesday.
The union, Unite, is due to visit the firm later today but in a statement said it would work hard to protect jobs.
Politicians from across the board have voiced concerns and yesterday Dumfries and Galloway MP Richard Arkless held meetings with staff and administrators and said the mood was 'positive' about the prospects of finding a buyer.
Unite the Union says it will work hard to protect the jobs of it's members at Penman Engineering in Dumfries.
Penman Engineering announced that administrators for the company had been appointed yesterday.
The company, which employs 140 people and specialises in bespoke vehicle design and construction, blamed a delay in the arrival of a major contract.
This is a worrying time for our members at Penman Engineering. In the coming days and weeks, we will support them, and will work hard to ensure that their rights are respected in this process.
“We will also work hard to protect their jobs. We will work constructively with the company and the administrators, and we call on our elected representatives at council, Holyrood and Westminster level, to do everything they can to help secure a new buyer.
“Scotland can’t afford to lose more high-skilled jobs from the manufacturing sector, and Dumfries & Galloway can’t afford another blow to its economy.”
An engineering company in Dumfries has gone into administration. Penman has been in business since 1859, and employs around 140 people.Read the full story ›
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