Fri. Jul 19th, 2024

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Ferguson shipyard to go into administration next week

Ferguson shipyard to go into administration next week

Around 350 jobs are at risk after the directors of a shipyard on the River Clyde in Port Glasgow served notice of their intent to go into administration, five years after it staved off closure.

Ferguson Marine Engineering directors have served notice of their intent to go into administration and to do so by the end of next week.

The business has been involved in a long running dispute over the construction of two ferries for CalMac which has lead to £45m in Holyrood loans despite the vessels not being completed.

A spokeswoman for Scottish Government said: “Our priority remains to ensure the completion of the vessels under construction, secure jobs for the workforce and protect the future of shipbuilding at the site.

She continued: “For the last two years, we were working to secure a future for the shipyard. It is really frustrating that we have not been able to reach a commercial solution with CBC that would have prevented administrators becoming involved.”

Ferguson Marine’s chief executive Gerry Marshall said in a statement: “It is with great regret and disappointment that the directors of Ferguson Marine Engineering Limited have served notice to appoint an administrator to the company.

Senior minister Derek Mackay reacted by posting on Twitter: “The news that Ferguson’s are to appoint administrators will be concerning for the workforce. I am committed to the delivery of our vessels, securing the jobs and the future of the yard.”


Jacob Lee

Jacob Lee is the writer behind all our Trade and Business policy related stories. His flair for writing, editing has led Front Statement to have a standing among the best news reporting blogs. Business trends, market fluctuations, and keeping track of the upturns and downturns of the economy are additionally taxed onto our able writer, who handles it with ease and elegance.

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