Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
MHA’s Michael Reid was appointed as liquidator for a clothing manufacturer with 40 years of history that has ceased trading and entered liquidation.
North East Rig Out (Aberdeen) has closed its operations with the loss of eight jobs following a prolonged downturn in the energy sector.
The company specialised in the production of workwear for the oil and gas, construction, engineering, and aviation industries.
Reid oversaw the wind-down of the business. All business assets have been sold via auction, and the company’s premises have been returned to the landlord.
The closure follows a period of sustained financial pressure for firms within the North-east supply chain.
MHA confirmed that the decline in the regional energy sector was a primary factor in the company’s inability to continue trading.
Reid said: “This is a difficult situation for everyone involved. The company faced sustained pressure as a result of the prolonged downturn in the energy sector, which has affected many businesses across the North-east. Unfortunately, eight people have been made redundant. Business assets have been sold by auction and the premises returned to the landlord.”
