{"id":1737,"date":"2019-01-03T09:54:22","date_gmt":"2019-01-03T09:54:22","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=1737"},"modified":"2019-01-03T09:54:22","modified_gmt":"2019-01-03T09:54:22","slug":"me-contractor-goes-down-owing-17-4m-to-suppliers","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/me-contractor-goes-down-owing-17-4m-to-suppliers\/","title":{"rendered":"M&E contractor goes down owing \u00a317.4m to suppliers"},"content":{"rendered":"

Scottish M&E contractor Richard Irvin & Sons has gone into administration owing \u00a317.4m to suppliers.<\/p>\n

The trade debt was revealed by administrator Ernst & Young who took control of the Aberdeen based firm late last month.<\/p>\n

The \u00a345m turnover company has been in business since 1907 and operated two divisions – mechanical and electrical and facilities management.<\/p>\n

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The M&E side was hit by contracts coming to an end and late payment while Irvin’s bankers refused to extend its overdraft.<\/p>\n

All 109 staff at the M&E division have lost their jobs but 337 jobs have been saved at the FM business which was sold for \u00a31.1m in a pre-pack deal to private investment firm Rcapital Partners.<\/p>\n

Josie Richardson, Director at Rcapital said: \u201cThe facilities management division of Richard Irvin is strong and profitable with real potential.<\/p>\n

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“We fully support the management team and will work with them to ensure the best possible customer service and sustainable growth.\u201d<\/p>\n

The new business will be called Richard Irvin FM Limited.<\/p>\n

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from Construction Enquirer http:\/\/bit.ly\/2F323jS<\/p>\n","protected":false},"excerpt":{"rendered":"

Scottish M&E contractor Richard Irvin & Sons has gone into administration owing \u00a317.4m to suppliers. The trade debt was revealed by administrator Ernst & Young who took control of the Aberdeen based firm late last month. The \u00a345m turnover company has been in business since 1907 and operated two divisions – mechanical and electrical and […]<\/p>\n","protected":false},"author":1,"featured_media":152,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-1737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/1737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=1737"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/1737\/revisions"}],"predecessor-version":[{"id":1738,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/1737\/revisions\/1738"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/152"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=1737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=1737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=1737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}