More than 2,000 Scotland-based jobs are at risk as oil and energy services group Petrofac has applied for administration.
The group’s operations will continue to trade, and options for restructuring of the company and a possible merger or acquisition are being actively explored with its key creditors, the company said on Monday.
People close to the company say they are hopeful a buyer can be found swiftly for its North Sea operations, with one suggesting that it could even happen in the coming days.
Money blog: ‘We protect the UK, our salaries can be limitless’
Administrators will work alongside company management to “preserve value, operational capability and ongoing delivery”, its announcement read.
News of a possible…