An Arbroath-based oil and gas technology firm has folded due to a slowdown in orders, putting 36 people out of work.
Gordon MacLure and Ewen Alexander, partners at Johnston Carmichael, have been appointed joint administrators of Axon Well Intervention Products UK.
The company was part of the Axon Energy Products Group and was based at the Kirkton Industrial Estate.
Mr MacLure said: “Unfortunately Axon is the latest in a string of failures in recent months, thanks to the continuing low oil price environment.
“Axon has had a strong business but has been unable to overcome the difficulties caused by a sustained downturn in customer capital expenditure requirements, which ultimately dictated its flow of orders.
“We’re now seeking buyers for the remaining assets of the business, including equipment and property.”