Hopes that a last-minute deal could be brokered to save more than 30 jobs at an award-winning Moray technology firm were fading last night.
Employees at AccuNostics have spent the last eight days in limbo after it emerged that negotiations over a US merger bid had hit the rocks.
High-level talks on the fate of the Forres-based company, which develops equipment for the diagnosis and treatment of diabetes, were held yesterday.
However, last night, it emerged that the prospects of saving the business were looking increasingly bleak.
Moray MSP Richard Lochhead and MP Angus Robertson met representatives of Highlands and Islands Enterprise (HIE) and Moray Business Forum to discuss emergency action.
Mr Robertson said: “Clearly, if no last-minute deal is struck, it will be a blow, and it would be very unfortunate if global factors were to spoil what was on course to be a successful company.
“The authorities are set to rally around to help the workforce at this difficult time.”
Mr Lochhead said: “Angus Robertson and myself emphasised to HIE Moray that the troubles at AccuNostics should not blow Moray off course in terms of developing our valuable life sciences sector.
“It is, of course, highly disappointing that all the efforts of the last 48 hours have failed to secure a last-minute deal to safeguard the businesses’ future. I know everything possible is being done for the staff.”
The firm, led by chief executive Giles Hamilton, had entered into an agreement with a US parent company – and expected its staff to become part of the new business by the end of this month.
However, that offer was withdrawn at the 11th hours, due to what was described as “market uncertainty”.
Mr Hamilton has spent the last week in the US trying to broker a fresh deal to preserve the immediate future of the company – but to no avail as yet.
On this side of the Atlantic, Mr Lochhead and Mr Robertson have been working with HIE, Moray Business Forum and Moray Economic Partnership (MEP) on to best help the employees at risk.
Speaking last night, MEP chairman John Cowe said he felt “desperately sorry” for everyone at the company – and defended Mr Hamilton’s handling of the situation.
He said: “AccuNostics are an iconic, cutting-edge business. It’s such a shame. Unfortunately, you just never know what’s around the corner.
“Giles Hamilton is one of the nicest, most genuine, hardest-working people you could ever hope to meet. He is doing everything he possibly can for that company, he always has.
“I just feel desperately sorry for him and all the employees.
“Hopefully, something will come out of it for everybody who has worked there. The Business Forum are working to see if they can help the staff.”