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.
This represents a unique opportunity to acquire a profitable assisted nursing/living facility in the serene region of Yorkshire.
FREEHOLD
This is an opportunity to acquire a well-established company valued at over a million pounds, supported by a dedicated and hardworking team.
Opportunity to acquire a well-established dental practice in a prime North West London location, ideal for expanding your portfolio or stepping into practice ownership.
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.