Mon, 28 Jan 2013 | ADMINISTRATION
Precision engineering contract manufacturer Border Precision has entered administration with the loss of 25 employees.
The Scotland-based business is continuing to trade with its remaining 120 staff under the control of accountancy firm Grant Thornton.
The joint administrators – Robert Craven and Stuart Preston - have reportedly said that it is too early to say if the business can be rescued or if a buyer will be found.
Established in 1976, the business trades from an 80,000 sq. ft. factory in Kelso’s Pinnaclehill Industrial Estate, and offers a range of bespoke precision pressings, RFI/EMC Gaskets and prototype manufacturing.
Losses at Border Precision trebled to £645,000 on revenues of £7.1 million for the year ending 31 October 2011. Its directors blamed the firm’s troubles on bringing in new advanced equipment in 2011.
Michael Moore Borders MP said it would be a “great loss” to the local community if the business fails.
“This is why I am urging administrators to work as quickly as possible to find a solution to protect jobs and provide certainty to employees at the firm,” he commented.
An established chartered accounting firm, founded in the 1980s, is now available for acquisition due to the owner's retirement.
An established accounting partnership with over 30 years of history is now on the market, offering a unique opportunity to acquire a longstanding and reputable business.
This is an exciting opportunity to acquire a leading civils and groundworks contractor with a strong foothold in Scotland, specialising in mobile telecoms and EV charging infrastructure services.
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