A north-east oil services firm majority-owned by businessman Thomas John Stodart is expected to go into administration later this week.
Insolvency and restructuring firm CVR Global said partners Ian Defty and Charles Turner had been appointed interim managers ahead of an expected formal administration appointment.
Screw Conveyor was established in 1996 and specialises in the supply of explosion-proof equipment and associated fabrication services to operators and drilling and engineering contractors working onshore and offshore.
The Bridge of Don-based company has 12 employees on its books.
Mr Defty said: “We have been appointed in anticipation of an administration order being made at a hearing on Friday.
“We have spoken to employees and directors and are now exploring options to take the business forward.”
Thomas John Stodart and Duncan Lawrie Offshore Services Limited (DLOS) are listed as two persons with significant control of Screw Conveyor.
Mr Stodart has a majority shareholding, while DLOS has between 25% and 50% of the issued capital.
Latest accounts published in December for the year to March 31, 2016, show the company had net assets of just over £1million.
The statements were signed off by former managing director Garry McCraw, who left the business in February after just six months in post.
The accounts also state a company called Ensco 374 is the ultimate parent company of Screw Conveyor.
Companies House lists Mr Stodart as the majority shareholder of the firm.
He has previously owned two major Dundee companies that collapsed.
In 2015, builder Muirfield Contracts went down suddenly with the loss of almost 300 jobs.
The firm’s demise is the subject of an ongoing UK Insolvency Service probe.
Earlier this month, liquidators were appointed to Dundee Technology Park-based Scottish Electric Group, and 100 contractors were made redundant.
Calls to Screw Conveyor and Mr Stodart were not returned last night.
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