Mcevoy Engineering Ltd. (SC120681): administration
- Status
- Administration ended
- Administration began
- 2024-05-02
- Administrators' firm
- BDO
- Formerly
- James Mcevoy & Sons Engineering Limited; Switchlog Limited
- Incorporated
- 1989-10-09
- Location
- Glasgow
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- COVID-19
- Rising costs / inflation
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Regulatory change or action
- Energy costs
- Cash flow / liquidity pressure
- Loss-making contracts / project overruns
- Property / lease costs
From the administrators' statement
The Company was incorporated on 9 October 1989 and traded from freehold premises at Unit 53, Stevenston Industrial Estate, Ayrshire. The Company provided steel fabrication and bespoke engineering solutions to multiple sectors including nuclear, defence, energy and pharmaceutical industries.
They specialised in fabricated steel structures and equipment, skid mounted assemblies, modular fabrication, pressure vessels, tanks, bridgework, and coded welding with the capability of operating from their fully-equipped fabrication facility or on-site at client premises.
In an attempt to diversify and attract more customer orders, the Company set up a piping division in 2019 and a lease was entered into for a property at Unit 65, Third Avenue, Heather Industrial Estate, Irvine to fulfil customer orders. However, due to rising costs and in particular increased electricity costs impacting the Company’s overall profitability, the piping division was re-located to the Company’s premises in Stevenston, in 2022. The Company triggered the break clause in the lease in December 2023, however, they were then presented with a dilapidation claim in the order of c£307k.
Administrators' statement of proposals (2024-06-21) · Companies House register