Contractor blow

120 jobs at risk as McGill appoints liquidator

McGill was rescued four years ago

McGill Facilities Management is expected to enter administration four years after the Dundee construction company was rescued.

Interim liquidator William Duncan (Business Recovery) has been appointed, putting 120 jobs at risk.

The firm previously went into administration in January 2019 which led to 400 employees losing their jobs.

In March 2019, the McGill assets were initially purchased from administration for around £1 million by Dundee businessman Graeme Carling through his company Catalus Energy Investments.

This business, which was renamed Qwerty100 at the end of last year, is currently being pursued by HMRC for unpaid liabilities.

However, a company spokesman has now revealed that its lender, Lloyds Bank, had withdrawn its support, leaving it with no working capital.

A spokesman for McGill said the company is now following the advice of a restructuring specialist.

He said: “As a fast-growing business, working capital is essential. Up until recently, McGill Facilities Management Ltd had a facility provided by Lloyds Bank. Recently the business received notice that Lloyds were removing the working capital bank facility due to a change in their perceived risk in the construction sector.

“This is a problem facing the entire building industry. With such a quick reduction in working capital, the company is facing significant operational challenges and the board of directors at McGill have appointed a specialist corporate restructuring firm to advise.

“On Friday, the business filed a notice of intent to appoint administrators with the Court of Session.

“McGill continues to operate, delivering work for clients across Scotland.”

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