
Dozens of jobs shed as Fergusson Coal enters administration
CPL Fuels has acquired parts of the Stirling-based business saving 67 jobs in the process.
Dozens of jobs have been lost at Scotland's leading coal suppliers after it went into administration.
A total of 22 jobs have gone at Stirling-based Fergusson Coal after KPMG were appointed administrators on Tuesday but 67 jobs have been saved.
Parts of the 90-year-old business were acquired by CPL Fuels Ltd immediately after it went into administration.
The third-generation family firm, which expanded into supplying power stations, had struggled due to the rapid decline in coal's share of UK electricity generation, the closure of Longannet Power Station and recent mild winters.
The coal power generation arm of the business has now closed with immediate effect with the loss of 22 jobs, including 13 from Group's main site at Hunterston in Ayrshire and nine redundancies at the head office in Stirling.
However, the core business supplying consumers to consumers and retailers has continued to perform well, KPMG said.
The subsequent acquisition by CPL Fuels has since secured 67 jobs at the firms eight depots across Scotland as well as staff in Northern Ireland and Carlisle.
Blair Nimmo, joint administrator and UK head of restructuring at KPMG, said: "It's no secret coal power generation has been in long-term decline for a variety of reasons, so we are happy to have been able to secure a future for Fergusson Coal through its new owner, CPL.
"This will provide employment for 79 of the company's staff and ensure that as we head into colder weather, there is no disruption of supply to those that need it the most.
"All employees affected by redundancies are being provided guidance and support through the appropriate agencies.
"We would like to wish CPL every success for the future."
Tim Minett, chief executive at CPL Industries, said: "CPL is very pleased to have completed the acquisition of the Fergusson distribution and wholesale businesses.
"Fergusson has a proud 90 year history and we look forward to developing the business in the future. It is good that we have been able to continue the majority of operations and preserve a large number of jobs.
"We look forward to working with the very committed staff and both Alan and Tom Fergusson, who will continue to manage the operations."