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.
Indicative offers are required by 12:00 noon on Thursday 9 July 2020 with a view to completion shortly thereafter. The Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a bespoke furniture manu...
The business is a long established manufacturer, agent and distributor of speciality chemicals, largely plasticisers and dispersions (catalyst pastes) used mainly in the sealants, adhesives, plastics and coatings sectors for the UK and international...
CLC licensed law firm based in Surrey looking for a sale due to retirement. Owner happy to stay on in short term for smooth handover. Work types are Residential Conveyancing, Wills & Probate and some Commercial Property matters. Offers invited.
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources