THE administrator appointed to Burnt-island Fabrications (BiFab) has said no redundancies are planned at this stage. BiFab announced earlier this month it was entering administration after Scottish ministers ruled out nationalising the company, saying it would be unlawful under state aid rules to continue financially supporting the yards. Deloitte has been appointed as administrator and will assess the company’s prospects with a view to finding a suitable buyer. It hopes to generate interest in BiFab from one of the industry’s larger players. The business was rescued by the Scottish Government in 2017 and bought by Canada-based DF Barnes in 2018 but with the Government as the “primary financiers”.
BiFab administrator seeks buyer as it rules out immediate redundancies
PA
14 December 2020, 2:39 pm
The administrator appointed to Burntisland Fabrications (BiFab) has said no redundancies are planned at this stage.
BiFab announced earlier this month it was entering administration after Scottish ministers ruled out nationalising the company, saying it would be unlawful under state aid rules to continue financially supporting the yards.
Deloitte has now been appointed as administrator and will assess the company’s prospects with a view to finding a suitable buyer.
It hopes to generate interest in BiFab from one of the industry’s larger players.
The business was rescued by the Scottish Government in 2017 and bought by Canada-based DF Barnes in 2018 but with the Government as the “primary financiers”.