Crisis talks underway at £87m-turnover manufacturer
Emergency discussions are taking place over the future of a Scunthorpe steel manufacturer, Caparo Merchant Bar.
The £87.8m-turnover business is being crippled by heavy debts and its previous owner’s administration, having to write off £22.7m of loans to its parent company Caparo Industries.
Caparo Industries and Caparo Steel Products both went into administration in October 2015, with CMB listed as an unsecured creditor.
CMB converts primary steel products sourced from third parties to finished goods, operating two hot ro... 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...
