Harkand Enters Administration; Loss of 171 Jobs
Friday 6 May 2016
Harkand Group, the oilfield services and inspection repair and maintenance (IRM) company has gone bust with the loss of 171 jobs in London and Aberdeen.
98 of those jobs are to go in Aberdeen.
The company has entered into Administration after it defaulted on the payment of its senior secured bond issue and interest, due to insufficient liquidity.