“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 today 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.
New open cast sites are unlikely to happen, and this is something to be happy about. However, 600 people have lost their jobs, and they won’t be the moneymen at the top, but the workers with little safety net. They have also had their last week of wages stolen, as this won’t be paid. For those living next to existing or unrestored sites this means scars on the landscape that are unlikely to be fixed any time soon. It’s time to get angry, and take back the land and wages that Scottish Coal bosses have stolen.
More information and analysis from Coal Action Scotland is expected shortly. Watch this space.