Keith Findlay, 10th March 2012
Award-winning Aberdeen energy service firm Brinker Technology is facing liquidation after a deal to buy it fell through at the 11th hour.
Kenny McAllister, the company’s chief executive, said yesterday the owners were still hoping the business would be sold.
Brinker, which employs 11 people, is the subject of a petition to Aberdeen Sheriff Court calling for the business to be wound up.
Ewen Alexander, of accountant Ritson Smith has been appointed provisional liquidator and interested parties have a week to “show cause” why the petition should not be granted.
Mr McAllister said that he was unable to discuss Brinker’s overall financial situation but revealed the firm had recently closed its Dubai office because of “slower uptake than expected”.
The company, based in Minto Place, Altens, has also ditched plans for an office in Malaysia. But Mr McAllister said demand for Brinker’s patented technology was still strong, adding that it had recently secured a Middle East deal worth more than £600,000.
He said: “We have been on sale for five months and were in exclusive negotiations with one particular group.”
The talks collapsed, however, and the future of the company, majority-owned by specialist oil and gas service investment fund Epi-V, and its workforce is now uncertain.
Brinker has won a string of awards over the years for its technology, which mimics the healing process in the human body to seal pipelines from the inside.
It was invented by engineer Ian McEwan after he cut his finger on a sheet of paper.
Mr Alexander could not be contacted yesterday.