Fife engineering firm secures four-year CVA with 32p dividend for creditors

Logan Bruce Limited, a family-owned civil engineering business based in Fife, Scotland, has secured creditor approval for a four-year company voluntary arrangement (CVA) that will allow it to continue trading and safeguard 21 jobs. The arrangement, approved on 1 September 2026, provides for an anticipated dividend of approximately 32 pence in the pound to compromised creditors, while HM Revenue & Customs and trade creditors will be paid in full. All creditors who voted supported the proposal.

Logan Bruce, which provides civil engineering and electric vehicle infrastructure services, encountered significant cash flow difficulties following the unexpected closure of a site where it had secured a major contract. The company had invested in equipment and resources to deliver the project before it was curtailed, leaving a substantial financial shortfall and forcing the business to take on additional borrowing to meet its obligations.

Opus Advisory Group was engaged in May 2026 to assess the company's options and initially conducted an accelerated sale process. When that process failed to generate a viable offer, Opus worked with management and the company's accountants to assess whether the business could be restructured.

As Logan Bruce began securing new contracts and developing a stronger pipeline of work, financial projections indicated that the underlying business could generate sufficient cash to support a CVA. Opus developed a four-year proposal and engaged with creditors over several months to demonstrate that the arrangement would deliver a better outcome than the available alternatives.

Paul Dounis, Partner at Opus Advisory Group, said the company's improving trading prospects had been instrumental in securing creditor support. He noted that the restructuring followed an assessment of all available options, including a potential sale, and that the new contracts and stronger pipeline provided a basis for a sustainable recovery.

The CVA will be supervised by Paul Dounis and Mark Harper of Opus Advisory Group, who will monitor the company's performance and compliance with the arrangement over its four-year term. The company will continue operating under existing management while implementing the restructuring.