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.
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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