KPMG appointed as Fife steel firm goes under with loss of 25 jobs

Blair Nimmo and Alistair McAlinden of KPMG have been appointed as joint administrators of Rippin Limited, the Cowdenbeath-based structural steel fabricator operating across Scotland and the north of England.

At the time of the appointment, the business employed 25 people, all of whom are based at the company’s site in Cowdenbeath.

The firm, established in 1974, a services provider to the UK construction industry, had experienced cash flow difficulties in recent months due to a significant downturn in orders as well as customers withholding payment as a result of contractual disputes.

Following the joint administrators’ appointment, all the company’s 25 employees have been made redundant.

The Joint Administrators are now working through a wind down of the company’s operations as they seek offers for the principal assets comprising stock and plant equipment.

Blair Nimmo, joint administrator and KPMG’s global head of restructuring, said: “In light of challenging trading conditions and significant cash flow difficulties, Rippin was unable to continue trading. This, unfortunately, resulted in the redundancies which have been announced today. We will be working with all affected employees and the relevant government agencies to ensure the full range of support is available. We will also be exploring the possibility of securing a sale of the company’s assets and would encourage any interested parties to contact us as soon as possible.”