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    Malakoff & Moore in receivership

    Yard News // February 14, 2003
    Blair Nimmo and Neil Armour of KPMG Corporate Recovery were appointed joint receivers to Malakoff & Wm Moore Ltd, the Lerwick, Shetland Islands-based ship repair yard, on January 24th.

    The business, employing 88 in its shipbuilding and repair yards, has experienced financial difficulties for several months due to a delay in establishing a new floating dock facility, and a general downturn in the ship building industry.

    KPMG Corporate Recovery was called in at the 140 year old business following a request by the directors of the company.

    Blair Nimmo, the Receiver at KPMG Corporate Recovery said: "We are presently assessing the financial position at Malakoff & Wm Moore Ltd and cannot comment further at this early stage. We would ask any parties that may have an interest in acquiring the business as a going concern to contact us urgently."

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