Glasgow-based construction specialist William Crawford & Sons and its parent company J&T Blacksmiths Ltd which specialises in industrial and architectural steelwork have been placed in the hands of administrators after a downturn in trading led to cash flow problems.
Paul Dounis and Ken Pattullo of Begbies Traynor were appointed joint administrators of the two companies on 19 February 2013 and are actively seeking a buyer for the £5.2m turnover group.
Forty-six staff have been made redundant following the administration in order to enable the administrators to keep trading the companies as they seek a buyer. Both firms are based at factories, offices and depots that are adjacent to one another at Hillington Industrial Estate in the city where 42 staff remain in employment.
J&T Blacksmiths Ltd was established in 1979 and provides steel works to major contractors and utility companies. The company is recognised as one of the leading fencing and steel staircase fabricators in Scotland and holds approved supplier status with Scottish Power as a result of its investment in a highly trained workforce. The company has a reputation for excellent service delivery and is ISO 9001 approved, essential for securing contracts with large organisations.
Its fully-owned subsidiary William Crawford & Son (Contractors) Ltd works closely with J&T Blacksmiths Ltd to provide a fully integrated construction, repair and maintenance offering.
“We are continuing to trade the businesses and continue to provide an on going service to existing customers that include major contractors. A quick sale will be needed to enable the businesses to continue to win future contracts and maintain sales revenues,” comments Paul Dounis.
“The businesses hit unresolvable cash shortfalls partly as a result of the slowdown in the market in general, but also as a result of reacting slowly to the downturn. However, both firms have a highly skilled workforce and very strong reputations within the market, and we are confident that their accreditation and solid customer relationships will make the businesses attractive to an acquisitive construction or manufacturing group.
“We are unable to make any guarantees regarding how long jobs will remain viable until we secure a buyer for the firms, but we are making every effort to secure a return for the creditors and secure a future for the businesses and their staff.”
Begbies Traynor is marketing the businesses for sale separately or together, and further details can be obtained by contacting Begbies Traynor on 0131 222 9060 or by email to J&TBlacksmiths@begbies-traynor.com
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.