M&E firm said it has been felled by Carillion鈥檚 collapse
KPMG has been appointed administrator of the M&E firm which said last week it had been brought to the brink of collapse by Carillion鈥檚 implosion in January.
A spokesperson for Vaughan Engineering Ltd confirmed the accountant, which as Carillion鈥檚 external auditor has been fiercely criticised by the parliamentary inquiry looking into its collapse, was appointed yesterday.
Vaughan sent all its 160 staff home last Friday bringing to an end 50 years of trading.
The firm was formed in 1968 after its Northern Ireland parent set up an office at Broxburn on the outskirts of Edinburgh. It also had offices in Newcastle upon Tyne and Warrington.
Vaughan said it was owed at least 拢600,000 by Carillion and had been due to carry out more than 拢1m worth of work for the firm in the first quarter of this year.
The firm posted a turnover of 拢38m in the year to March 2017, racking up a 拢2.6m pre-tax loss. But it said it had budgeted to make a small pre-tax profit this year.
The company鈥檚 parent, which was set up in 1955 in Newtonabbey, employs around 250 people and remains unaffected by its sister firm鈥檚 administration. Another sister firm, ductwork contractor Brankin, is also unaffected.
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