THE BOSS OF a major fuel distributor has made sure that few if any redundancies will be suffered by staff when a Moray subsidiary went into receivership this week.
Caley Oils Ltd called in receivers when they posted debts of £3,795,841 after posting a profit for the last year after tax of just £482.
However, bosses at the firm’s parent company, Cullen-based Northern Oils, have stepped in to transfer staff to their operation.
David Wood, the chief executive of Northern Oils, said that Caley Oils Ltd would be wound up – but confirmed that 40 UK-wide jobs had been transferred to the parent company.
He added: “The Northern Oils branded portfolio of companies will continue to look at new opportunities and continue with their current operations throughout the UK.”
Northern Oils this week submitted a planning application at Moray Council at add a 15,500 square foot extension to their existing office and warehouse complex at Lintmill.