The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Scotland; Eastern Scotland; East Lothian and Midlothian
Location of affected unit(s)
Loanhead
Sector
Construction Construction Of Buildings And Infrastructure Engineering Construction Of Buildings 41 - Construction of buildings
344 jobs Number of planned job losses
Announcement Date
5 April 2006
Employment effect (start)
Foreseen end date
Description
A construction firm has gone into receivership with the loss of almost 350 jobs, it has been announced.
Receivers KPMG moved in at Peter Walker Group, which is based in Loanhead, Midlothian, on Tuesday.
KPMG said that the current financial situation meant that 344 jobs had been lost and the firm had ceased trading. The company, which had 300 contractors on its books and an annual turnover of around £50m, became involved in a number of unprofitable contracts. A workforce of 31 will continue to assist the receivers. Based in Loanhead, the Peter Walker Group can trace its roots back to 1879.
Sources
Citation
Eurofound (2006), Peter Walker Group, Closure in United Kingdom, factsheet number 63299, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63299.
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