A Fife-based safety-services which has been dragged into Administration by the slump in demand caused by the downturn in N. Sea work as clients slash spending in response to the crude oil price slump.
Blair Nimmo and Tony Friar of KPMG have been appointed as Joint Administrators of Sabre Safety Limited, an oil and gas safety services company and a specialist in offshore and onshore Hydrogen Sulfide (H2S) safety and protection.
Based in Cupar, Fife, and with premises in Aberdeen, the company assists UK and international clients with safe working environments. It also supplies breathing apparatus and gas detection systems for rental or sale.
Sabre Safety was dragged under by the downturn in the oil and gas sector to the extent that its turnover slumped by more than 50% from around £13 million in 2014 to £5.5 million last year.
In the latter part of 2016, the company attempted to find a buyer or fresh investment but was unsuccessful despite some interest.
The company, which was established in 2001, has 45 employees – 37 based in Cupar and eight in Aberdeen. Following the appointment 30 employees have been made redundant (23 in Cupar and seven in Aberdeen) while a core staff of 15 are assisting the Joint Administrators in safeguarding the company’s assets while the Joint Administrators explore the possibility of securing a sale.
Ironically, in Summer 2016, Sabre Safety was placed at No. 11 in the top 100 list of UK exporters compiled by a local newspaper in London.