Scottish firm goes bust after plunging into administration with majority of jobs lost
END OF THE LINE Scottish firm goes bust after plunging into administration with majority of jobs lost
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A SCOTTISH firm has plunged into administration after 41 years with dozens of jobs lost.
Hospital Pipeline Installations Limited (HPI) was founded in 1984 and headquartered on Duke Street in Paisley.
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HPI headquarters is located in Paisley's Duke Street
HPI was a leading designer and installer of medical, dental, laboratory and industrial gas pipelines
The company also had an additional office south of the border in Rochdale.
The business plunged into administration due to a 'marked downturn' in trade, rising operating costs and low-margin contracts, The Herald reports.
Blair Milne and James Fennessey, partners with Azets, have been appointed joint administrators.
At its peak, HPI had a turnover of around £3million and employed 25 staff.
The business provided repair and maintenance services and built a client base across the construction, dental and medical sectors - which included several NHS Health Boards.
A total of 22 employees have now been made redundant, with three being retained to assist the administration process.
The administrators said they will provide as much assistance as possible to those staff affected by redundancy.
This includes liaising with the Redundancy Payments Office and employment support organisations such as PACE.
They added: "Unfortunately, 22 employees have been made redundant with three being retained by the joint administrators to assist with the administration process and with safeguarding the company's assets."
Completely Motoring faces administration
Blair Milne, joint administrator, 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."
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