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Administrators Sell Business of Recruitment Company to New Owners

Administrators Sell Business of Recruitment Company to New Owners

The trading business of Aberdeen recruitment company Source-People Ltd has been sold to new owners by joint administrators from business rescue, recovery and restructuring specialist Begbies Traynor.

“Immediately upon our appointment the business of the company, which is primarily the recruitment of specialist personnel in the oil and gas market, was sold to Source-People (Aberdeen) Ltd,” said joint administrator Ken Pattullo, managing partner for Begbies Traynor in Scotland.

“Importantly, this has secured continued work for some 20-plus contractors placed with a number of firms in the Aberdeen area,” he added.

Mr Pattullo said the overriding reason for Source-People Ltd going into administration was the global downturn in the economy at a time when the company was attempting to expand into the United States.

Ken Pattullo

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Ken Pattullo

Regional Managing Partner

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Ken joined the Glasgow office of Begbies Traynor in 2003, before overseeing the firm's expansion into further offices in Edinburgh, Dundee, Aberdeen and Belfast. He previously worked at KPMG, Ernst & Young and PricewaterhouseCoopers in Scotland. He has a broad range of experience in Corporate Rescue and Recovery, as well as in turnaround and restructuring, corporate and personal insolvency, investigations and IBRs.

Specialisms: Licensed trade, haulage, property investment/development, construction, agriculture engineering/manufacturing.

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Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland