200 jobs axed as recruitment firm Spectrum Social Network Ltd folds
Friday 28 September 2012
Around 200 people have lost their jobs after a recruitment firm went into liquidation.
Provisional liquidators KPMG said that Spectrum Social Network Ltd could no longer continue after facing "challenging trading conditions".
The company, which traded as Spectrum Personnel, recruited and supplied temporary and contract workers, mainly to the engineering and logistics sectors.
It employed around 200 people, comprising 30 employees and 170 contractors, out of its two offices in Motherwell, North Lanarkshire, and Gateshead, Tyne and Wear.
All have been made redundant.
Blair Nimmo of KPMG LLP was appointed provisional liquidator on September 14.
He said: "Despite its strong reputation as a supplier of temporary workers for the engineering and logistics sectors, Spectrum Social Network Ltd has experienced challenging trading conditions in recent times.
"Unfortunately, due to those conditions it is no longer viable to trade the business as a going concern and all 200 staff have been made redundant with immediate effect."
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