“In light of Scottish Coal’s poor trading and financial position, we have had to cease trading with immediate effect,”
-Blair Nimmo, joint provisional liquidator and head of restructuring at KPMG in Scotland.
Scottish Coal, the UK’s biggest coal producer, has announced on Friday that they are entering administration. Due to recent “significant cash flow pressures” they have laid-off 600 workers and stopped all production at their six open cast sites.
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