Liquidators seek buyers
20 jobs go as vehicle parts firm collapses
A long-established provider of specialist components and services for cars, commercial vehicles and operating plant, has collapsed.
Falkirk-based MTH Group has appointed Tom MacLennan and Iain Fraser, partners with FRP Advisory LLP, as joint provisional liquidators.
Founded in 1969, the company provided products such as speed limiters, tachographs and air conditioning.
It had seen falling turnover in recent years and increasing online competition for its products and services which resulted in unsustainable cash flow issues.
The joint provisional liquidators will be marketing the company assets for sale, including vehicles, and a range of specialist plant and equipment.
Mr MacLennan, partner with FRP Advisory, said: “MTH Group was highly regarded for its expertise and wide range of specialist automotive engineering services.
“Unfortunately the financial issues facing the company could not be resolved and the business has now ceased trading and all 20 staff have been made redundant.
“We will work closely with all agencies and services to ensure employees receive every support and assistance at this very difficult time.”