Penman Engineering Bought Out Of Administration

Penman Engineering Bought Out Of Administration

Troubled Dumfries company ‘Penman Engineering’  that went into administration last month with the loss of 44 jobs has been bought back by the same company that bought it in 2016.

The UK’s biggest commercial vehicle firms Martin Williams Ltd from Hull that had already purchased the Heathhall business in 2016 has reached agreement with administrators and purchased the firm again.The news comes a month after the company entered administration for the second time in three years with the loss of 44 jobs. The firm employed 61 people, 17 of whom stayed on to assist the administration process.  

 

Penman Engineering has been in Dumfries since 1859 and previously went into administration in 2016 but was bought that November by Hull-based commercial vehicles group Martin Williams. The owners placed the firm in administration last month and appointed KPMG as administrators.

 

It was announced today that the same company has stepped in again to buy Penman.

 

South Scotland MSP Colin Smyth has given a cautious welcome to the news that Dumfries based vehicle conversation specialists Penman Engineering has been bought and taken out of administration- but believes questions remain unanswered over the firm’s administration in the first place.

 

 

South Scotland MSP Colin Smyth said:

 

“The news the firm has been sold will be given a cautious welcome not least from remaining employees. However, the fact that there were rumours from the workforce right from the start that the owners had placed the firm in administration to allow them to effectively buy it back with some debt written off leaves a lot of unanswered questions”.
 
“There will be anger from those made redundant just a  few weeks ago at the uncertainty they have faced and I hope those who haven’t found work will be taken back on quickly”.
 
“I will also be seeking assurances from the owners that they have a long term commitment to the Dumfries site which remains a strong asset for any engineering firm. Penman have been in Dumfries since 1859 and these are jobs our town cannot afford to lose”.