Rutherglen-based building firm appoint administrators to try to save business
Rutherglen-based construction firm MMPS (Scotland) Limited have appointed Stuart Robb and Julien Irving of Leonard Curtis Business Rescue & Recovery in a bid to save the troubled business.
The pair took control of the MMPS, which has 36 employees, on Tuesday.
MMPS specialises in the refurbishment of properties across Scotland and the North of England and most of its staff are time served across a variety of trades.
The administrators said the business has suffered in recent times from debtor disputes resulting in withheld payments.
This, together with increased competition and reduced margins in the sector, has resulted in the company facing significant cashflow problems of late.
As a result, the company’s director, having explored all other viable options, took steps to preserve the business and appointed Administrators.
Joint Administrator, Stuart Robb, said: “We are currently assessing the company’s financial position to see what parts, if any, of the business can be saved.
“Whilst the position is being assessed, none of the workforce have been made redundant as yet. We will continue to make contact with MMPS customers over the course of the next 48 hours to determine whether it is possible for any of the business to continue to trade.
“We would encourage any parties with an interest in the company’s business or assets to contact our Glasgow office as soon as possible on 0141 212 2060 or email Kristopher.Tosh@leonardcurtis.co.uk.”
Leonard Curtis Business Rescue and Recovery is part of the Leonard Curtis Business Solutions Group (LCBSG).