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Administrators appointed to Penman MW Ltd.

Administrators appointed to Penman MW Ltd.

Blair Nimmo and James Lumb from KPMG’s Restructuring practice have been appointed joint administrators of Penman MW Ltd, trading as Penman Engineering.

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Blair Nimmo and James Lumb from KPMG’s Restructuring practice have been appointed joint administrators of Penman MW Ltd, trading as Penman Engineering.

Based at a site in Dumfries, Penman Engineering employs 61 people within a 15-acre site and has been in operation since 1859, specialising in the design, construction and software development of armoured military and security vehicles.

In 2017 the company was rescued from a previous administration, but – despite its long heritage and considerable efforts from staff and owners – cash pressures have made the business unsustainable.

Following today’s appointment, 44 employees have been made redundant, with the remaining 17 members of staff being retained to assist the administration process.

Blair Nimmo, Head of Restructuring at KPMG UK and joint administrator, said:

“Penman Engineering has a long heritage of producing highly specialised armoured vehicles from its base in the south of Scotland. The company’s experienced, knowledgeable team has worked tirelessly to find long-term sustainable solutions, but – regrettably – cashflow challenges have left the owners with no other choice but administration.

“Our focus as administrators will be on assessing what options are available for the business and ensuring clients and impacted staff members are fully supported throughout this difficult process. This includes working closely with Skills Development Scotland, via their PACE team, to support those who have been made redundant.”

-ENDS-

Notes to Editors:

For media queries, please contact:

Brian O’Neill, Corporate Communications Manager
T: 07823 668 689
E: Brian.O’Neill@kpmg.co.uk

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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