Almost 90 jobs have been saved after an Aberdeenshire supplier of environmental services and equipment was bought out of administration.
Corporate turnaround experts from Johnston Carmichael were called in after MS Industrial Services (MSIS) failed to secure additional funding to overcome “challenging trading conditions and cash flow pressures from overseas expansion”.
Immediately after the appointment of restructuring partners from Johnston Carmichael as joint administrators earlier this week, a sale of the business and assets to Denholm MacNamee was completed. It secures 88 jobs at MSIS across its Inverurie and Invergordon sites.
Richard Bathgate, joint administrator, said: “We are very pleased to have concluded the sale of the business and assets to Denholm MacNamee, as this will provide the best outcome for the company’s creditors, customers and skilled workforce.”