News / 60 jobs at risk as T&N goes into administration
PROSPECTIVE buyers are being sought for a Lerwick joinery firm after it went into administration due to a lack of working capital.
T&N Joinery, which employs 60 local craftsmen, fitters and operational staff, is continuing to trade while the business is reviewed. The administrators claimed that as yet there have been no redundancies.
Accountancy and business advisory firm BDO LLP’s restructuring partners James Stephen and Bryan Jackson were appointed as joint administrators on Tuesday.
T&N offers a wide range of products and services including timber windows, UPVC windows, conservatories, stairs, roofing, fitting and installation and general contracting.
The administrators are undertaking a review and want to hear from any parties interested in buying the business and its assets.
“T&N Joinery is a well-known and successful Shetland business with a strong reputation for craftsmanship, which has unfortunately been affected by a shortfall in working capital,” Stephen said.
“Despite this, it has a reputation for quality, a strong order book and good prospects. As joint administrators, we will do all we can to keep the company trading as a going concern.
“We are interested in hearing from any prospective buyers for the business, and we will try to avoid making any redundancies in the immediate short term while we explore the options.”
He added: “We would like to thank staff for their patience and continued support at this time.”
Anyone interested in buying T&N Joinery should contact the administration team to register their interest on 0141 249 5236.
Become a member of Shetland News
Shetland News is asking its many readers to consider paying for membership to get additional features and services: -
- Remove non-local ads;
- Bookmark posts to read later;
- Exclusive curated weekly newsletter;
- Hide membership messages;
- Comments open for discussion.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a member of Shetland News by either making a single payment, or setting up a monthly, quarterly or yearly subscription.
Already a member? Sign in to hide this message.
