Oil and gas sector downturn triggers Shetland office supply firm failure
Liquidators have been appointed at Shetland Office Supplies Ltd, a provider of stationery, office equipment, IT and CCTV installations that was based on the island.
Ken Pattullo and Kenny Craig of Begbies Traynor were appointed as joint liquidators on 27 May 2016 after the decision to put the firm into liquidation was taken by its director Alan Blair.
The company had suffered a massive loss of business following the downturn in the oil and gas sector over recent years that had accounted for the majority of the company’s business.
Mr Blair and two other employees of the firm were made redundant with immediate effect, and a meeting of creditors will be held at Begbies Traynor’s offices in Aberdeen on Friday 10th June 2016.
“The hardship that the contraction of the oil and gas sector has experienced is widespread in Scotland, and this is another very clear example of the very real knock on effects being felt right through the Scottish economy,” said Mr Pattullo.
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.