Administrators save manufacturing group with MBO
Administrators have saved the Altec Engineering group with a management buyout, but were not able to save dozens of jobs at Yorkshire sites.
Altec, headquartered in Co. Durham, manufactures automation equipment and high precision components for aerospace and defence.
Keith Marshall and Steve Ross of RSM Restructuring Advisory were appointed joint administrators of Altec Engineering Limited on 29 June 2017.
They said that significant creditor stress had been experienced by the firm following losses last year and a debt stru... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
