BusinessBusiness RecoveryShetland shipbuilders stay afloat

Shetland shipbuilders stay afloat

Corporate recovery partners at KPMG have found a buyer for shipbuilders and repair yard Malakoff and Wm Moore Ltd, based in Shetland.

Link: KPMG closes down Airdrie FC

Blair Nimmo and Neil Armour from KPMG were appointed joint receivers to the Lerwick-based business on 24 January 2003.

Yesterday, they secured the sale of the business to a consortium led by Allan Gould, the group’s former general manager.

In the process 65 jobs have been saved.

Blair Nimmo said he, along with Armour, were delighted to announce this sale.

‘We wish the new management well for the future, and we’d like to take this opportunity to thank all the employees, customers and suppliers for supporting the business during the past five months of the receivership,’ he added.

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