KPMG pair appointed as joint administrators for Pentland Precision in Loanhead
Midlothian engineering firm Pentland Precision has gone into administration putting more than 30 jobs at risk.
Alistair McAlinden and Blair Nimmo ofKPMGhave been appointed as joint administrators of the Loanhead-based company, whose services include laser cutting, sheet metal work, fabrication and powder coating to customers including Babcock, Enermech and Havelock Europa
It serves sectors including oil & gas, renewable energy, defence, marine, agriculture and food and drink, and has produced architectural metalwork for clients including Heathrow airport.
It is understood that the company struggled with mounting debts after losing contracts worth 2 million with its main customer, the shipbuilding arm of Babcock, in 2017.
In the latest accounts published for Pentland, covering 2017, it had debts of 438,159 due to be paid within one year and was owed 315,483. Its managing director is Robert McCartney and the other listed directors are Gordon Hardman, Alan Noble and Graham Young.
In September Pentland Precision transferred the rights to debts owed to them, to Bibby Invoice Discounting.