All 35 jobs have been lost at the family run James Penman (Plant Hire) and associated drainage firm Meiklem Drainage
Fife-based James Penman (Plant Hire) specialised in groundworks, drainage and plant hire and was due to celebrate its 50th anniversary this year.
Established in 1974 by James Penman’s father, in September 2022, the company’s plant and machinery were valued at £3.5m, with net assets of £1.5m.
Around 35 staff are understood to have been made redundant at the company and the associated Meiklem Drainage division.
James Penman previously completed works for Forth Crossing Bridge Constructors, Scottish Natural Heritage, Fife Council, St Andrews R & A Golf Course, Kimber Golf, Martin Stevens, Morrison Construction, Halls Construction and Savills.
Post-pandemic financial obligations led to the company’s downfall
Callum Angus Carmichael and Michelle Elliot were appointed joint provisional liquidators of the Company on 5 March 2024, as insolvency specialists FRP Advisory took over the company.
Callum Carmichael said: “James Penman struggled to maintain its financial obligations, which stemmed from the pandemic and, regrettably, has entered liquidation.
“Our job now is to focus on supporting all staff that have been impacted with their applications to the redundancy payments service as we wind down the remaining business.”
