Dozens of jobs lost after hospital pipeline firm collapses
Hospital Pipeline Installations Limited (HPI) was placed into administration on May 9 and has ceased trading with immediate effect.
The firm, which has its headquarters in Paisley and was founded in 1984, and designs and installs medical, dental, lab and industrial gas pipelines.
The business also provided repair and maintenance services and had built a substantial client base including several NHS Health Boards.
A total of 22 members of staff have been made redundant, with three retained to assist with the process of administration.
The firm also has an office in Rochdale.
The administration was said to be caused by a 'marked downturn in trade, rising operating costs and low margin contracts'.
HPI at its peak had a turnover of approximately £3m and employed 25 staff.
Blair Milne and James Fennessey from advisory firm Azets have been appointed as joint administrators.
Mr Milne said: 'HPI was a highly regarded specialist in the field of medical gas pipeline installation and maintenance, providing an essential service to the medical sector, including hospitals and dental practices across the UK.
'The business was suffering from a number of operational and financial challenges and was coming under mounting creditor pressure.
'The directors sought professional advice on their options and ultimately concluded that the company should be placed into administration.
'We will now focus on assisting the employees with their claims for redundancy and other entitlements and on marketing the company's assets for sale.
'The joint administrators would encourage interested parties to contact the Glasgow office of Azets as soon as possible.'
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