FS Port Glasgow Limited (SC113454): administration
- Status
- Administration ended
- Administration began
- 2014-08-14
- Administrators
- Blair Carnegie Nimmo, Gerard Anthony Friar
- Administrators' firm
- KPMG
- Formerly
- Ferguson Shipbuilders Limited; Vendale Limited
- Incorporated
- 1988-09-20
- Location
- Glasgow
- Industry
- 30110 Building of ships and floating structures
Why it went into administration
- Cash flow / liquidity pressure
- Competition / price pressure
- Pension deficit
- Parent or group failure
From the administrators' statement
Ferguson was founded in 1902 when Peter Ferguson, co-founder of Fleming and Ferguson Shipbuilders (“FFS”), left FFS to set up a business with his three brothers Daniel, Louis and Robert.
In 1903, the brothers secured a lease in respect of the site at Newark Works, Port Glasgow, Renfrewshire, PA14 SNG, the Group’s trading premises at the date of our appointment. Shortly thereafter, a contract for the building of two steam tugs was obtained from Clyde Shipping Co Limited.
Over time, the business continued to grow and, amongst other contracts, built 29 ships _ during the First World War and 30 ships during the Second World War.
Administrators' statement of proposals (2014-10-08) · Companies House register