A UK engineering company has collapsed into administration with all staff being made redundant. The firm was founded 45 years but administrators have now been appointed following recent struggles.
Galino Limited, which was founded in Coatbridge in North Lanarkshire, Scotland, in 1981, entered administration on Tuesday, July 7. It has since appointed David McGinness and Judith Howson, of AAB Business & Tax Advisory, as joint administrators. They have confirmed that all 12 staff members have lost their jobs with some set to help the administrators for a “short period of time”.
As reported by The Herald, Mr McGinness said: “Upon appointment, the business ceased to trade and, unfortunately, all 12 staff were made redundant.
“A small number of former employees will be assisting the Joint Administrators in their duties for a short period of time.
“The joint administrators are engaged with the relevant agencies to co-ordinate supporting the employees through the difficult process.”
A spokesperson for AAB Business & Tax Advisory added: “Creditors, employees, customers and other affected parties will be contacted directly with information relevant to them.”
Galino specialised in industrial fastening tools, custom fasteners, and machine screw products. Its main customers were companies across the construction, automotive, furniture and packaging industries.
In a description of itself, the business said: “Not only do we carry a vast range of fasteners, but the corresponding pneumatic and hand tools. With a limitless range of products and fastening supplies, Galino has been dedicated to providing its customers in and around the UK and Ireland with unmatched service, selection and advice.
“Our services extend to a diverse range of trades and industries, whether you work in: construction, furniture & upholstery, doors & windows, automotive, flooring, whisky packaging, pallet & crate making printing & tagging and many more.”