Paisley redundancies: Jobs lost as Scottish firm goes into administration after over 40 years in business
A total of 22 employees from the Paisley-based firm have been made redundant.
A Scottish company has gone into administration after more than 40 years in business, with more than 20 jobs lost.
Hospital Pipeline Installations Limited (HPI), a medical gas pipeline installation and servicing specialist, was founded in 1984, with its headquarters based in Paisley.
A leading designer and installer of medical, dental, laboratory and industrial gas pipelines, the firm also provided repair and maintenance services, with clients across a number of sectors, including several NHS health boards.
Blair Milne and James Fennessey, partners with Azets, have been appointed as joint administrators.
At its peak, HPI had a turnover of about £3 million and employed 25 staff. However, despite the efforts of directors, the business has been placed into administration. A downturn in trade, rising operating costs and low margin contracts have been cited as reasons for the decision.
A total of 22 employees from the company, which also has an office in Rochdale, have been made redundant. Three staff have been retained to assist with the administration process and safeguard assets.
Paisley-based firm placed into administration after ‘mounting creditor pressure’
Mr Milne said: “HPI was a highly regarded specialist in the field of medical gas pipeline installation and maintenance, providing an essential service to the medical sector, including hospitals and dental practices across the UK. The business was suffering from a number of operational and financial challenges and was coming under mounting creditor pressure.
“The directors sought professional advice on their options and ultimately concluded that the company should be placed into administration.”
Mr Milne said administrators would be focused on providing staff affected by redundancy with support, including liaising with the Redundancy Payments Office and employment support organisations such as PACE.
He said: “We will now focus on assisting the employees with their claims for redundancy and other entitlements and on marketing the company’s assets for sale. The joint administrators would encourage interested parties to contact the Glasgow office of Azets as soon as possible.”
Company assets available for sale include the former trading premises at Duke Street, Paisley, a fleet of around 15 commercial vans, a quantity of stock and some equipment.
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