Stodart firm in administration

A north-east industrial equipment supplier majority owned by businessman Thomas John Stodart went into administration at the High Court in London yesterday.

Ian Defty and Charles Turner, partners at insolvency and restructuring firm CVR Global, have been appointed administrators of Screw Conveyor Ltd following a hearing in London.

Screw Conveyor Ltd, based on the Denmore Industrial Estate in Aberdeen, is a supplier of explosion-proof equipment and associated fabrication services to operators and drilling and engineering contractors working onshore and offshore.

Administrators have confirmed there have been no job losses and they are now exploring options to sell the business while it is still trading.

Mr Turner said: “We hope to conclude a sale in a short space of time.”