The Scottish farm supplier has gone into administration after several years of falling sales. The company previously went through a restructuring process, however cashflow problems since have resulted in the appointment of administrators.
Specialising in the sale of building, fencing and agricultural items, McArthur has traded for over 170 years. Sites are located across Scotland and England, including Coatbridge, Bristol and Birmingham.
The company initially looked to sell the business as a going concern, however there was not significant interest. Andrew Sheridan, Geoff Rowley and Tom MacLennan, of FRP Advisory, have been appointed joint administrators.
A spokesperson for McArthur said, “Regrettably, upon entering administration, the joint administrators have had to cease trading resulting in the immediate redundancies of 162 of the 183 staff employed at the date of their appointment.”
We are not involved in the administration and questions should be directed to FRP Advisory who are handling the administration.
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.