Belmar Engineering Enters Liquidation, 48 Jobs Lost

Belmar Engineering, an Aberdeen-based firm established in 1975, has entered liquidation, resulting in the immediate loss of all 48 jobs. The decision to close was attributed to increased international competition, ongoing financial losses, and a significant decline in orders. Liquidator Michael Reid indicated that efforts to sell the business had been unsuccessful, and despite attempts to restructure operations, the factory was deemed non-viable. Creditors, including trade suppliers and finance companies, are owed several million pounds, though the exact recovery amount will be confirmed only after assets are auctioned. This closure highlights the ongoing challenges faced by engineering firms in the region, reflecting broader economic pressures. Reid emphasized that he will ensure employees are informed about their entitlements during this process.