Administration

ISG plc is expected to follow its subsidiary companies by entering administration today. Six of the contractor's subsidiaries, including ISG Construction, applied to enter administration yesterday.

Harland and Wolff, which has two Scottish shipyards in Methil and Arnish, has confirmed it is faced with administration for the second time in five years and will appoint insolvency practitioners from Teneo. While 50 to 60 'non-core' staff are being made redundant, the board maintains a "credible pa

Joint administrators Ben Cairns and Jonny Marston from Alvarez & Marsal have been appointed to “wind down” the operations of Hadden Construction. The Perthshire housebuilder has fallen into administration with 66 members of staff being made redundant.

Gareth Harris and Paul Dounis of RSM UK Restructuring Advisory LLP have been appointed joint administrators of Glenevin Limited and its subsidiary GCL Hire Limited. The Livingston-based engineering firm, founded in 2013, specialised in multi-utility infrastructure and was involved in the c

Joint administrators Craig Morrison and Brian Milne, managing directors of business advisory firm Quantuma, have facilitated the sale of a streaming service developed by Glasgow-based Frog Systems, for an undisclosed sum. Cheshire-based wellbeing company Raiys has acquired Ashia, a 24/7 digital

The number of companies in Scotland filing for administration during H1 2024 has dropped by 15% compared to the corresponding period last year, according to figures from Interpath Advisory. Analysis of notices in The Gazette by Interpath shows there were 28 administrations in Scotland in the first s

Zelf Hussain, Rachael Wilkinson and Peter Dickens of PwC have been appointed as joint administrators of Carpetright Ltd. On appointment, the joint administrators completed a sale of 54 stores and two logistics hubs to CWHP Ltd, part of the Tapi Group. The transaction includes the transfer of 308 emp

Scottish animation and visual effects firm Axis Studios has entered administration. Alistair McAlinden and Geoff Jacobs of Interpath Advisory have been appointed joint administrators to Axis Productions Limited and Axis VFX Limited, which trade as Axis Studios, on 15 July 2024.

Henderson Loggie business recovery and insolvency partner Shona Campbell has been appointed by the directors of Charles Henshaw & Sons Ltd as administrator. The 120-year-old Edinburgh-based façade specialist has entered administration due to financial pressures from legacy contracts and p

Richard Bathgate and Donald McNaught, restructuring partners at Johnston Carmichael, have been appointed joint administrators of oilfield services business OEM Group (Scotland) Ltd. Based in Portlethen, just outside Aberdeen, OEM Group (Scotland) Ltd was founded in 2012 and provided rental services

Michelle Elliot and Callum Carmichael of FRP Advisory, have been appointed joint administrators to Ritchies HGV Training Centre Limited manage its administration.

Scotland recorded 109 company insolvencies during the month of April, a 4% year-on-year decrease, according to The Insolvency Service. These included 48 compulsory liquidations, 59 creditors' voluntary liquidations (CVLs), and 2 administrations. This puts the overall insolvency rate in Scotland for

In a deal facilitated by FRP Advisory, Scottish convenience store chain Eddy's Food Station has been acquired by SPAR Scotland's wholesaler, CJ Lang & Son Ltd, for an undisclosed sum. Callum Carmichael and Michelle Elliot, partners at FRP Advisory, were appointed joint administrators of Edd

Company insolvencies in Scotland have gone up 11% year-on-year, as 115 company insolvencies registered were registered during March 2024. This was comprised of 44 compulsory liquidations, 62 CVLs, and 9 administrations. There were no CVAs or receivership appointments.

The number of companies in Scotland filing for administration has hit its highest Q1 rate since before COVID-19, according to figures from Interpath Advisory.