Falkirk and Larbert-based engineering companies, AIM Engineering & Fabrication Group Limited and Hescott Engineering Company Limited, have ceased trading after falling into administration, resulting in the redundancy of all 93 employees.
Alistair McAlinden and James Dewar from Interpath Advisory have been appointed as joint administrators for both businesses.
The two companies specialised in providing steel and metalwork design engineering, fabrication, construction, and industrial services, alongside site installation. Their clientele spanned critical sectors including construction, petrochemicals, oil and gas, and industrial processing, serving a tier-one customer base.
The administrators cited significant financial pressures as the reason for the collapse.
“In common with a number of other organisations operating across the building and construction supply chain, the companies had experienced challenging trading conditions in recent times, which were exacerbated by the loss of a major customer,” the administrators stated. They added that despite various efforts by the directors to mitigate these challenges, the companies’ financial position ultimately became unsustainable, leading to the “difficult decision” to appoint administrators.
Joint administrator Alistair McAlinden commented on the broader industry climate, noting: “These administrations come against a backdrop of sustained turbulence across the construction and engineering supply chain, where rising costs, tightening margins and the loss of key contracts have created acute financial strain.”
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The immediate priority for the administrators is to support the affected workforce. “We recognise this is a particularly difficult time for the companies’ workforce, and our thoughts are with all those who have been made redundant. Supporting them through the claims process and helping them access the assistance available will be our immediate priority,” Mr McAlinden affirmed.
This support will include assistance with claims for monies owed from the Redundancy Payments Service, a government body designed to provide financial aid to employees when their employer is insolvent and unable to make statutory redundancy payments.
Parties interested in acquiring the businesses or their assets are encouraged to contact the administrators promptly.
