Another victim of oil slump
Jobs lost as Cupar oil services firm collapses
Based in Cupar, Fife, and with premises in Aberdeen, the company assists UK and international clients with safe working environments. It also supplies breathing apparatus and gas detection systems for rental or sale.
Turnover collapsed from £13 million in 2014 to £5.5m last year and the company was unable to reduce overheads in line with declining sales levels.
It also suffered contractual problems in its Italian division which contributed to significant losses.
The company attempted to find a buyer or fresh investment but was unsuccessful despite some interest.
It was established in 2001 and had 45 employees – 37 in Cupar and eight in Aberdeen. Following the appointment of KPMG as administrators 30 have been made redundant (23 in Cupar and seven in Aberdeen) while a core staff of 15 are helping safeguard the company’s assets while attempts are made at finding a buyer.
Blair Nimmo (pictured), joint administrator, said: “It is highly regrettable that so many redundancies have been required today. We hope that the key assets and infrastructure of Sabre Safety will be attractive to other operators in the sector.”