McGill Facility Management Limited, now the company name, on 25th August 2022. McGill’s fire and security division was quickly sold to Galashiels-based SPG Fire & Security Ltd.
Former company McGill & Co Limited, owned by brothers Stanley and David McGill, after 40 years of Transactions were administered on February 1, 2019. [See our previous report here. ] Assets were acquired by Catalus Energy Investments, owned by Dundee businessman Graeme Carling, and the business was reborn as McGill Facilities Management Limited
However, the combination of the Covid-19 pandemic, some onerous contracts and rising material prices has brought the company out of business again.
Co-Administrators Barry Stewart and George Lafferty Leonard Curtis of the accounting firm worked with Director McGill to pack e Fire and Safety and liaised with the parties involved to achieve quick rescue.
Barry Stewart said: “Companies have been struggling with cash flow and despite government assistance through the Coronavirus Business Interruption Loan Scheme, bankruptcy is Inevitable
“We are pleased to say that this process has resulted in a going concern sale of the Fire and Safety Division, which will help maximize benefits for creditors while at the same time
Errol Lawrie, director of McGill Facilities Management Ltd, said: “This is a particularly difficult time for all employees and customers, although It’s disappointing that we couldn’t save the entire business, but it does give me relief that we were able to save the sector and some local jobs.”
SPG Simon Gillie, General Manager of Fire and Security, said: “The acquisition of this well-respected division further enhances our position in the fire scene and the safety market, and I am delighted to now be working with the team and continuing to look after its clients and clients.”
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