Due to ongoing pressures from the oil and gas drop in prices, Galloway Group has called in the administrators, resulting in 161 employees being made redundant.
The company has struggled over the years with cash flow and recent events have pushed Galloway over the edge. Sadly, it closely follows in the footsteps of another Scottish construction firm, The Dunne Group.
As a specialist ductwork engineer, Galloway Group worked on several well-known sites over the years, including the Sir Chris Hoy Velodrome in Glasgow, Scottish Parliament and London’s British Museum.
Despite doing everything they could, including cost-cutting and raising finance, managers of Galloway Group felt there was no other option but to go into administration. Andrew Davison and Hunter Kelly from Ernst Young were appointed joint administrators yesterday.
33 employees have been kept on to assist with the process, while EY seek a suitable buyer. Davison said in a statement:
“The redundancies which we have had to make are clearly regrettable. We are doing all that we can to assist these members of staff to make their relevant claims and are providing them with access to impartial advice to help them face the future.”
If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know. We are not involved in the administration and questions should be directed to Ernst Young who are handling the administration.