KPMG administrators set offer deadline for stricken Ferguson shipyard

by Richard Crump

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21 Aug 2014

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Boat

ADMINISTRATORS of Ferguson Shipbuilders, the stricken shipyard, have set a closing date for offers for the Port Glasgow company after receiving encouraging levels of interest from potential buyers.

Blair Nimmo and Tony Friar of KPMG, who were appointed as joint administrators of Ferguson Shipbuilders Limited on 14 August, yesterday announced a closing date of 5pm today for offers for the business and assets of the group.

According to the administrators, significant interest has been expressed in the assets of the group and initial discussions have been held with several parties with a view to recommencing work at the yard.

Blair Nimmo, joint administrator and head of restructuring for KPMG in Scotland, said: "We have been encouraged by the level of initial interest in, and support shown for, Ferguson Shipbuilders and we sense there is a desire to see its heritage maintained.

"By setting an early closing date we hope to establish whether it is possible to facilitate an early sale which may lead to the resumption of shipbuilding and ship repair activity at Port Glasgow in the short term."

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