The shutters come down on Schivo NI

by Bob Huggins

Schivo NI will close its doors today with the loss of 40 jobs.

The Carrakeel Drive business announced yesterday that it would shut up shop after failing to find a buyer when it went into administration earlier this year.

Administrators  Duff & Phelps says it  will work with employees to ensure that employees receive all monies owed as well as redundancy.

They also said that they would support employees in seeking new opportunities.

The Derry based aerospace engineering firm, formerly known as Maydown Precision Engineering, went into administration following the arrival of administrators on January the 6th.

A spokesperson for Duff & Phelps said: “Regrettably, despite a thorough marketing process and having secured the support of key customers, the administrators have not received any acceptable offers for the business and assets as a going concern.

As a result, the business will cease trading as of Friday 31st March and of the remaining employees, eight will be retained to support the winding down of operations.

At this difficult time, we will work with all employees who will be affected by redundancy to ensure they receive the information and guidance they need to claim monies owed from the Redundancy Payments Office and to support all employees in seeking new opportunities.”