Perthshire ventilation firm falls victim to Carillion and McGill Electrical insolvencies
A specialist manufacturer and installer of ventilation systems based in Coupar Angus has gone into liquidation with the loss of more than 80 jobs.
Founded in 2006, MJ Ventilation Limited manufactured, installed and serviced bespoke ventilation systems for a wide range of commercial and public sector clients. The company, which had grown rapidly in recent years, had a turnover of around £7 million and employed 81 staff.
Blair Milne, business restructuring and insolvency partner with Campbell Dallas, who has been appointed provisional liquidator, said MJ Ventilation had been suffering from severe cash flow problems compounded by significant bad debts arising from the recent insolvencies of Carillion and McGill Electrical.
The business has now ceased trading and all staff have been made redundant.
Mr Milne said: “MJ Ventilation was a well-established and highly regarded specialist ventilation systems business with a high-quality client base across the public and commercial sectors. Despite the best efforts of the management team, the business had been suffering from unsustainable cash flow problems and the only option was to place the company in liquidation.
“We will now be marketing the company’s assets for sale, including plant and vehicles, and would encourage interested parties to contact our Glasgow office as soon as possible.”
He added: “A priority for Campbell Dallas will be to minimise the impact on the staff and hence our team will make immediate contact with the Redundancy Payments Service and other agencies such as PACE in order that all claims and support services are progressed as quickly as possible.”