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2020 / 2021 Edition

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Hargreaves to acquire Scottish Coal assets

Liquidators name Hargreaves Services as preferred bidder for some of Scottish Coal’s assets

HARGREAVES Services plc, the UK’s leading suppliers of solid fuels and bulk materials logistics, have been named by the liquidators of Scottish Coal as the preferred bidder for certain assets of the failed opencast mining firm.

Scottish Coal, who operated six surface mines across East Ayrshire, South Lanarkshire and Fife, collapsed last month with the loss of almost 600 jobs, while their sister company, Castlebridge Plant, was put into administration.

It is understood that liquidators KPMG chose Durham-based Hargreaves as preferred bidder for certain assets after considering a number of offers.

Hargreaves Services have been granted a period of exclusivity of six weeks to conduct due diligence on Scottish Coal’s assets, although the liquidators have not specified which particular assets are involved.

Joint interim liquidator Blair Nimmo said: ‘These developments represent a positive step forward in our efforts to find the best possible way to resume mining and return employment to the affected areas.’

Hargreaves’ chief executive officer, Gordon Banham, commented: ‘We are pleased to be confirmed as preferred bidder for certain Scottish Coal assets.

‘This represents an important opportunity to accelerate our strategy of creating a sustainable mining operation in Scotland founded on profitable sites operated with environmental responsibility.’

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