Glasgow-headquartered nuclear decommissioning specialist JFN Limited has gone into administration putting 300 jobs at risk.
In a statement the administrators said JFN had incurred losses in recent years associated with"a number of uneconomical long-term contracts" which resulted in the business requiring a"significant" funding injection, reports The Herald. With no reasonable prospect of selling the business, directors said they had no choice but to appoint administrators.
FTI is"hopeful" of being able to conclude a transaction in the coming days for the instrumentation division, which employs about 20 people.
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