Around 40 jobs to go at Schivo NI as Derry firm shuts its doors
Around 40 jobs are set to go as a Londonderry manufacturer shuts its doors today, it has emerged.
Engineering company Schivo NI, formerly Maydown Precision Engineering, was sold off in a pre-pack administration to Waterford-based Schivo for £1.6m last year.
At the time, around 41 members of staff were let go, and the firm was taken over by administrators Duff & Phelps.
But now it has said that despite a “thorough marketing process” and getting backing from key customers, it failed to attract a suitable buyer, and will now close.
Schivo NI employed 83 people making precision components for aerospace giants such as Airbus and Boeing.
Following its administration, more than 40 jobs were lost. It’s understood the majority of the remaining workforce will now also go.
A spokesperson for Duff & Phelps, administrators of Schivo NI, 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 March 31 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.”
Stephen Kelly, chief executive of Manufacturing NI, said the decision to shut the firm is “bitterly disappointing”.
“It’s disappointing that these jobs have been lost from this firm. There was a lot of hope than when Schivo purchased a company running for more than 40 years that they would be able to secure new work, and with it, the jobs.
“What is left now is dozens of highly skilled and experienced precision engineers and we would hope someone would see an opportunity in them, either to create a new business or offer them employment.”