A New Era Dawns
A turbulent start to the early noughties would eventually turn out good for Malakoff.
The floating dock at Holmsgarth that was operated by Malakoff would stop operations in 2001, after 12 years of services to the fishing industry in Shetland it was away to Caithness late in the year. Malakoff would then experience numerous delays in getting a new floating dock established, this would accompany exceptionally high costs of environmental modifications and a fishing industry close to a stand-still. All of which meant that the company, and it's 93 employees faced a very uncertain future. The company would be put into recievership by its parent company Wood Lithgow in early 2003 before official recievers would come in the following month and subsequently 18 people would lose their jobs.
However, in May of 2003 a consortium led by former general manager Allan Gould, and included current managing director Dougie Stevenson, would purchase Malakoff & Wm Moore Ltd. The new company would then become what is known as today - Malakoff Limited. They would sageguard 60 jobs and would have the intention to re-instate the 18 who lost their job only months before.
The floating dock that was at the heart of the receivership in 2002-03 would be sold by SIC's Development Trust to a Norwegian firm for £200,000. It had originally cost Malakoff & Wm Moore Ltd £800,000. It would go onto be sold in Denmark for £1.5m.