A former Plessey electronics and semiconductor foundry has appointed administrators after sustaining losses.
MHS Electronics Limited was known as Zarlink up until a year ago, when the analogue chip company was sold for one Euro to the French company MHS Electronics.
"We have regrettably had to make 14 redundancies but we are working to secure a going concern sale of this established and highly skilled business," said Simon Girling, joint administrator at BDO Stoy Haywood. "The contraction of the consumer electronics and technology industries, and the wider economic conditions, have all played a part in MHS Electronics UK Limited's current difficulties".
When MHS bought the business from Zarlink, the Canadian-based company incurred a $13 million loss on the sale of the business. MHS also received 2 million towards costs of restructuring.
The business specialises in providing international hospitality companies through forums and networking events a route to two key markets. The business operates on a B2B basis across the UK & France, offering events for MICE agents and end-user corpo...
RELOCATABLE
The company provides commercial vehicle repairs, servicing, and diagnostics, specialising in HGVs and LGVs. The business’s comprehensive offering includes LOLER testing, repairs, roadside assistance, MOTs, and vehicle servicing.
The company offers roofing materials to tradespeople and the general public, specialising in providing reclaimed materials. The continuous high standard of service provided by the company has enabled it to build and maintain secure relationships with...
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.