Acheson and Glover subsidiary put in administration after major losses

A CO Tyrone firm which blamed Brexit for closing part of its operation in February has placed the entire company in administration, putting 105 jobs at risk.

A total of 162 people were employed at Acheson and Glover’s precast division when the company closed its Magherafelt operation earlier this year.

The remaining 105 jobs, including 95 in Ballygawley, are now at risk after the directors of the parent Acheson and Glover group said they could no longer endure the losses. The latest company accounts for the 12 months to March 31, 2017 showed the precast subsidiary went from pre-tax profits of £248,424 in 2016 to a £1.5m loss in the last year.

In February Acheson and Glover said there had been a slump in orders for some of its flooring and precast stairs “as a result of uncertainty in the marketplace driven by Brexit”. Yesterday the firm said demand for its precast products had continued to fall by between 35% and 40%, leading to further financial losses.

In a statement yesterday, the company’s directors Colin Walsh, Raymond Acheson, Stephen Acheson and Keith Scott said the Acheson and Glover Limited business, which employs 230 people, continues to be profitable and will be unaffected.

Reacting to the news, Stephen Kelly (left) of Manufacturing NI said: “This is terribly sad news for the workers involved and the Acheson family. We have been warning that there are sectors feeling a significant slow down as confidence to invest, particularly in large capital projects, has been negatively impacted, particularly by the uncertainty around Brexit.”

Ballygawley-based SDLP councillor Sharon McAleer said the development was a major blow to the employees and their families in the lead up to Christmas.

“This will have a knock on effect throughout the locality. This is a time of year that people feel most vulnerable,” she said. “The best outcome would be if they could retain staff within the company.” Ulster Unionist MLA for Fermanagh and South Ty- rone Rosemary Barton expressed grave concern at the news.

“The Acheson and Glover business has been a long-established quarry product specialist for decades in the Tyrone area, supplying throughout the United Kingdom. It is unfortunate that this decision has had to be taken, which is a worrying time for the employees. I trust every effort will be made to support the staff in this difficult time and in the weeks and month ahead.

“I will be seeking a meeting with the owners of Acheson and Glover to establish the accurate situation and discuss the potential of what lies ahead for the future.”