Nearly 220 employees of the Saltcoats location were told Thursday that the firm is no longer in business.

The company was founded in 1971 and specialized in industrial services, like fabrication and welding.

A former member of the EMW administration, who did not want to be identified, said that all former employees will be paid what they are owed, though the payment will be made through a government bankruptcy assistance program.

The financial consultancy firm Deloitte has become the receiver, meaning that Deloitte has assumed control of EMW with the purpose of repaying the debts held by the Saltcoats company.

Deloitte declined to comment.