Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

FULL STATEMENT: Administrator confirms 374 immediate job losses at McGill

The company appointed to oversee the administration of Dundee firm McGill says 374 staff have been made redundant with immediate effect.

KPMG LLP says difficult trading conditions and late payments by some of McGill’s customers have forced the company into administration.

McGill headquarters in Harrison Road, Dundee.

It says 55 workers will remain employed during the administration process.

Lead administrator Blair Nimmo has also invited anyone interested in buying all or parts of the business to come forward as soon as possible.


The administrators’ statement in full

Blair Nimmo and Geoff Jacobs of KPMG LLP were appointed as joint administrators of McGill & Co Limited (the Company) on Friday February 1.

McGill workers leaving the Apex Hotel after learning the company is entering administration.

McGill & Co was established in 1981 as a specialist building contractor. The company provides services to clients in the residential, commercial and industrial sectors from its headquarters in Dundee and ancillary offices in Glasgow and Edinburgh.

The company trades through five divisions; mechanical & electrical services, facilities management; social housing; private residential; fibre & wireless.

BREAKING NEWS: Hundreds of jobs to be lost as Dundee-based firm McGill enters administration

In recent years, McGill & Co has suffered from challenging trading conditions in the construction sector and has encountered disputes and delays in payment for a number of significant projects. Reduced margins, combined with contract and payment delays and a downturn in billable work during the winter months, left the company with a significant funding shortfall.

Following an assessment of the immediate funding requirement, the directors developed a business turnaround plan and approached a number of parties to attempt to secure additional funding. Ultimately, as McGill & Co was unable to secure the funding it required, its only option was to be placed into administration to protect the creditors’ position as best as possible.

Upon appointment, the joint administrators had no other option than to make 374 of the company’s 429 employees redundant with immediate effect.

McGill workers called to meetings in Dundee, Glasgow and Edinburgh amid concerns for firm’s future

The 55 remaining employees have been retained to assist the joint administrators to realise the company’s assets, including four freehold properties, numerous contracts, an extensive order book and construction equipment. Joint administrators are rapidly exploring whether an early sale of some of the business and assets can be secured.

Blair Nimmo, global head of restructuring for KPMG and joint administrator, said: “McGill & Co Limited is a well-known, long established business and provides a significant source of employment, particularly in Dundee both directly and through the supply chain. Disappointingly, market conditions and contract related disputes have required the business to cease trading.  We will do everything we can to seek a buyer who may be able to protect some of the business and maximise recoveries for creditors.

“We would encourage any party who has an interest in acquiring any part of the business and its assets to contact us as soon as possible.

“We will be working with employees and have already initiated matters with relevant government agencies to ensure the full range of support is available to all those affected.”

Video: Union representative reacts to news

Already a subscriber? Sign in