More than 300 jobs at risk as Fife firm prepares to go into administration

29 June 2018, 14:39 | Updated: 29 June 2018, 17:07

Havelock Europa

A Fife shop outfitters and manufacturer has announced plans to appoint administrators, putting 320 jobs at risk.

Havelock Europa, which employs the majority of its staff at its headquarters in Kirkcaldy, has published a notice of intention to appoint administrators.

The move comes following a troubled period for the company, which suspended trading on its shares earlier this week.

This followed financial results released in May, in which the company said the operating environment and risk factors constituted "a material uncertainty that may cast significant doubt over the ability of the Group and Company to continue as a going concern.”’

In its notice, Havelock Europa said: "Unless circumstances change, and in accordance with statutory requirements, the board intends to appoint administrators within 10 business days.

"The secured creditors can, however, appoint administrators without the requirement for notice.

"The directors remain in discussions with potentially interested parties with a view to protecting the position of creditors. There can be no guarantee, however, that such discussions will conclude satisfactorily."