Aiken Realisations Limited (SC102664): administration
- Status
- Administration ended
- Administration began
- 2019-03-14
- Administrators' firm
- KPMG
- Formerly
- Aiken Group Limited; James Aiken (Offshore) Limited; James Aitken (Offshore) Limited; Sareglen Limited
- Incorporated
- 1987-01-07
- Location
- Glasgow
- Industry
- 09100 Support activities for petroleum and natural gas mining
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
m= Aiken Group Limited (the “Company’) was incorporated in January 1987 as an engineering business based in Aberdeen.
The Company's principal activity was the design and manufacture of accommodation modules from leased premises in Aberdeen, with its “blue chip’, global customer base comprising most major oil and gas producers and oilfield services companies.
Historically, the Company was profitable and cash generative, with peak trading occurring in 2015 when turnover of c£25.7 million was posted and a profit before tax of c£2.3 million achieved.
Administrators' statement of proposals (2019-04-01) · Companies House register