Tayside and Central Scotland

Dundee-based electrical contractor collapses with loss of 99 jobs

Scottish Electric Group
Image caption Scottish Electric Group had faced "prolonged cash flow pressure"

A Dundee-based electrical contracting firm has gone into liquidation with all 99 employees losing their jobs.

Vasanat International Ltd, trading as Scottish Electric Group, had faced "prolonged cash flow pressure."

The company, which was placed into liquidation on Tuesday, was based in Dundee Technology Park.

Provisional liquidator Donald McNaught of Johnston Carmichael said the main objective would be to "preserve value" in the firm's remaining assets.

He said this was to "maximise the return to creditors".

Mr McNaught said: "Unfortunately, the process has resulted in job losses and we will work with the relevant government agencies to ensure employees are provided with the appropriate support."

Scottish Business Minister Paul Wheelhouse said: "I am very concerned to learn of developments at Scottish Electric Group in Dundee and recognise that this will be a worrying time for employees, their families and communities in the surrounding area.

"Through our Partnership Action for Continuing Employment (Pace) initiative, we are liaising with the liquidators Johnston Carmichael to provide skills development and employability support to affected employees which will include a Pace event which is being arranged for next week.

"Our Pace initiative has a strong track record in supporting people affected by redundancy which I hope will be of comfort to Scottish Electric Group employees."

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