Easdales: It would be a gamble but it might save the industry

RANGERS directors James and Sandy Easdale are poised to "save the industry" after meeting with administrators at a crisis-hit shipyard.

Loading Comments
Share
Print
James and Sandy Easdale visited the Greenock Yard. Picture: Mark Gibson
James and Sandy Easdale visited the Greenock Yard. Picture: Mark Gibson

The tycoon brothers met with KPMG bosses at Ferguson Shipbuilders, in Port Glasgow, yesterday to discuss their options over saving the yard.

The Greenock-based Easdales revealed they started putting plans in place for taking over Ferguson's as soon as it went into administration on Friday with the loss of 70 jobs.

The brothers, who own McGill's Buses, had an hour-long meeting with administrators, followed by a tour of the Inverclyde site.

Speaking after the meeting, Sandy Easdale said: "KPMG were honest with us on the way forward.

"It's now time to bring in our experts to assess valuations.

"It's a business, so we've got to go away and look at the numbers."

Administrators blamed cash-flow problems and a lack of orders for the shipbuilder getting into financial difficulty.

And the brothers warned workers not to get overly optimistic about any possible takeover.

Sandy said: "We look forward to seeing what we can do, but it is early days - we are not promising anything.

"It's a big gamble at this moment in time because there are no orders on the books - there is nothing there at all to be honest.

"They have a couple of bits and pieces that they are finishing off but there is no order book whatsoever."

The brothers have assembled an expert team who will examine the financial future of the shipyard.

James said: "I think it's about saving the industry, jobs will come on the back of that."

rebecca.gray@eveningtimes.co.uk

Finance

Commenting & Moderation

We moderate all comments on Evening Times on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

176872

Have you got a story?

Contact the news desk on 0141 302 6520 or email news@eveningtimes.co.uk
Janice Bell

Janice Bell

You Couldn't Make This Up

It takes two to tango, but Strictly it is not

Times Out

Entertainment

Lifestyle

TV Advert
Cat’s Eyes on Glasgow

Cat’s Eyes on Glasgow

Cat Cubie’s job is to find and share with you the fabulous things the city has to offer, from gigs to gastro.

Michelle McManus

Michelle McManus

Sussed in the City

Whatever the result, the fans are Still Game

Gail’s Gab

Gail’s Gab

Gail Sheridan is a mother-of-one and wife to Tommy and she likes to get political with the hot topic of the week in her column Gail’s Gab.