A Fife steel fabricator has gone into administration with the loss of 25 jobs.
Rippin Limited, based in Cowdenbeath, is a leading structural steel fabricator operating across Scotland and the north of England providing services to the UK construction industry.
A statement from the company, which has been trading since 1974, said the firm had recently experienced “cash flow difficulties due to a significant downturn in orders”.
It added that some customers had withholding payment as a result of “contractual disputes”.
All of the firm’s 25 staff were based at the company’s site at the Thistle Industrial Estate in Church Street, Cowdenbeath.
Blair Nimmo and Alistair McAlinden of KPMG LLP were appointed as Joint Administrators on Monday.
They are now working through a wind down of the company’s operations as they seek offers for the principal assets comprising stock and plant equipment.
Mr Nimmo said: “In light of challenging trading conditions and significant cash flow difficulties, Rippin was unable to continue trading.
“This, unfortunately, resulted in the redundancies which have been announced today.
“We will be working with all affected employees and the relevant government agencies to ensure the full range of support is available.
“We will also be exploring the possibility of securing a sale of the company’s assets and would encourage any interested parties to contact us as soon as possible.”
The majority of Rippin’s steel construction operations were in the new-build sector. The company also specialised in complex extensions to existing buildings.
As well as main steelwork, the Fife firm supplied and installed metal decking and stairways.
Lesley Laird, MP for Kirkcaldy and Cowdenbeath, said: “This is very disappointing news and my thoughts go out to affected staff and their families.
“Rippin Ltd was not only a leading steel fabrication firm, it’s been an integral part of Cowdenbeath’s community for over four decades and its loss will be felt very keenly.
“The firm has pledged to offer a full range of support to employees at this difficult time and that, I’m sure, will be welcomed.”
