Administrators are on standby this weekend to handle the collapse of Petrofac, the oil and energy services group – an insolvency which could threaten the future of more than 2,000 jobs in Scotland.
Sky News has learnt that directors of Petrofac have lined up Teneo for an administration process which could be confirmed as early as Monday morning.
The company’s board, chaired by former Anglo American finance director Rene Medori, is said to be holding emergency talks this weekend.
One industry executive said a decision to file for administration was likely to be taken before the stock market opens on Monday.
Ed Miliband, the energy secretary, and other ministers have been briefed on the situation, with more than 2,000…