The firm – trading as McGill Facilities Management Ltd – is now under the control of administrator Leonard Curtis
The refurbishment and fit out specialist first went into administration in February 2019 with the loss of 374 jobs.
It was then acquired by United Capital led by property developer Graeme Carling and embarked on an expansion and acquisition programme.
Leonard Curtis said the company crashed again due to “financial pressure due to a combination of factors caused by the Covid-19 pandemic, a number of loss-making contracts and material price inflation.”
Leonard Curtis’ Barry Stewart said: “The company had been struggling with regards to cashflow in particular for a period of time and despite accessing Government assistance via the Coronavirus Business Interruption Loan Scheme, insolvency was unavoidable and the business was marketed for sale.”
That has resulted in a pre-pack deal for the fire and security division of the company which has been sold to Galashiels based SPG Fire & Security Ltd
Stewart added: “We are pleased to say this process resulted in the going concern sale of the fire and security division which will assist in maximising realisations for creditors whilst protecting a number of jobs.”
Errol Lawrie, McGill Facilities Management Ltd director said: “This has been a particularly difficult period for all the employees and customers and whilst it is disappointing that we were unable to save the whole business it does give me some comfort we were able to save this division and a number of local jobs.”
Simon Gillie, Managing Director at SPG Fire & Security Ltd said: “The acquisition of this well-respected division further enhances our position in the fire and security market and I am delighted to now be working with the team and continuing to look after its customers and clients.”