Oil and gas downturn claims Maxwell Drummond International
Executive search recruitment specialists for the energy industry, Maxwell Drummond International (MDI) has become insolvent and last week entered into a provisional liquidation process.
According to Energy Voice, a spokesperson for insolvency company, Begbies Traynor, said the “business failure” of MDI was, “partly as a result of the downturn in the oil industry”.
Energy Voice stated that the spokesperson commented that MDI was “unlikely” to be rescued, leaving little hope for the business to be brought or to receive financial assistance.
MDI is expected to lose nine people in its Aberdeen office, while the number of job losses globally are not yet known.
It had offices in London, Aberdeen, Calgary, Rio, Houston, and Singapore.
Kevin Davidson, chief executive officer since July 2011, was not available for comment and the company has not released a statement on its website.