§ Matthew TaylorTo ask the Secretary of State for Northern Ireland if he will list the dates and subjects of meetings that(a) special advisers and (b) Ministers in his Department have had since 2 May 1997 with representatives of Mackie Ltd.; and if he will make a statement. [34324]
§ Dr. John ReidOn 9 September 1998, the Minister of State dealing with economic development matters met Sul Sahota and Jim Gilmore, respectively chief executive and chairman of Mackie International Group plc. The Minister of State was accompanied by officials, but there was no special adviser present. The meeting was held at the request of Mr. Sahota to discuss financial difficulties that were being faced by Mackie International Group plc. We have no record of any other such meetings, although there was frequent contact with representatives of Mackie International Group at official level from May 1997 until the company collapsed.
§ Matthew TaylorTo ask the Secretary of State for Northern Ireland what assessment his Department has made of the reasons for the collapse of Mackie; and if he will make a statement. [34320]
§ Dr. John ReidMackie International Group plc following its failure to raise additional funding of £15 million to acquire another engineering group and restructure its balance sheet. The company had incurred substantial trading losses of over £25 million from 1996 to 1998 due to a decline in the textile machinery market and a lack of orders. These losses significantly weakened the company's liquidity.