Thu, 06 Dec 2012 | ADMINISTRATION
A major opencast coal mining company in Scotland has entered administration.
ATH Resources, the holding company for operators across Fife, Dumfries and Galloway and Ayrshire, was forced out of business this week (Wednesday, 5 December).
It is thought that pressure on Scotland's coal industry as a whole was largely responsible as cheaper imported coal pushed prices down.
A statement from the company read: “The Directors of ATH Resources plc one of the UK's largest coal producers, announce that its lender, BECAP Capital Coal Limited has today demanded repayment of the Group's facilities, in full, with immediate effect.
"The company cannot satisfy the full repayment of the facility and consequently, the lender has today appointed administrators to ATH Resources plc under powers contained in the security held by it."
ATH Resources had deferred its plans to expand an opencast coalmine in the south of the country in May of this year. The international decline in coal prices was blamed for the deferral of the expansion plans at the Glenmuchloch facility, which had already received the backing of Dumfries and Galloway Council. The situation was set to be reviewed by the board by the end of the year but the administration has put a halt to this.
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.
Don't miss the chance to acquire a thriving dental practice located in the bustling West Midlands area, poised for continued growth and success.
A longstanding and successful DIY store which has established itself as one of the region’s preferred providers. Available on a freehold basis, the company operates from an impressive 25,000 sqft retail property and holds an impressive reputation acr...
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.