Dozens of jobs have been lost in Aberdeenshire after a century-old agricultural machinery business was placed into administration.
Balgownie Limited and Balgownie Rentals Limited, which had traded for 117 years, appointed Richard Bathgate and Graeme Bain of Johnston Carmichael LLP as joint administrators on March 15 following “cash flow problems”.
The Inverurie firm confirmed that 24 employees have lost their jobs immediately, with 17 workers retained to help try and sell the company’s assets.
Managing director Mike Singer said: “As a result of cash flow issues, the board of directors is deeply saddened to announce that we have had to make the difficult decision to appoint Administrators to the company with immediate effect.”
Richard Bathgate, one of the administrators, described Balgownie as “a well-respected company known for its outstanding customer service.”
The administrators said they were "urgently" assessing stock at the firm's Inverurie and Turriff depots to decide whether the business may be able to continue limited trading.