Penman Engineering Limited, the Dumfries based developer and manufacturer of specialist vehicles, entered administration on 31 August 2016.
Penman’s are a provider of Engineering, Fabrication, integration and design services which specialise in the manufacture of special to role vehicles, (armoured) protected vehicles, Containerised systems, protective equipment and commercial vehicles for a broad range of customers including UK MOD, UK Government, FCO, NATO, UN, Foreign military and government, NGO’s, Humanitarian organisations and Charities as well as commercial companies within the Cash in Transit, infrastructure, Nuclear and Subsea industries.
Penman has a history stretching back to 1859 and currently employs about 140 from its site in Heathhall near Dumfries.
The business is continuing to trade at the present time under the control of the administrators, whilst a search is conducted for a purchaser.
Mark Ranson, Michael Kienlen and Daryl Warwick, all partners with Armstrong Watson’s Restructuring, Recovery & Insolvency team are the appointed administrators.
“We are currently focussed on enabling the business to continue to trade during the administration process, in order that we can seek a sale of the business in order to preserve the maximum number of jobs. We have already identified a considerable number of prospective purchasers and will be speaking to them over the next few days to determine their interest.
We understand that many employees will be concerned about their future employment, and will be providing confidential briefings to them as regularly as we are able to during the administration process. All employees will receive relevant information about their employment rights in the current difficult circumstances, and may speak with one of our employment rights specialists if necessary.
The directors of Penman had strived to avoid the necessity of the company going into administration, but the delay in arrival of a major contract provided too big a challenge to the businesses cashflow. All directors are currently retained to assist the administrators in the running of the business.”
For further information please contact Catherine May firstname.lastname@example.org or call 07901 922516
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