Burntisland Fabrications Limited (SC213282): administration
- Status
- In administration
- Administration began
- 2020-12-14
- Administrators
- Gavin George Scott Park, Clare Boardman
- Administrators' firm
- Deloitte
- Formerly
- Purple Venture 111 Limited
- Incorporated
- 2000-11-28
- Location
- Edinburgh
- Industry
- 25610 Treatment and coating of metals
Why it went into administration
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
As presented on the prior page, BiFab recorded operating losses over the previous three years. Additionally, the Company’s revenues declined from c.£33m in the 12 months ended 31 December 2019 to c.£3m in the 11 months ended 30 November 2020, as the Company was unable to secure new contracts.
The Directors have attributed the inability to secure new contracts to a combination of:
1. Market competition; and
Administrators' statement of proposals (2021-02-15) · Companies House register