Tue, 16 Oct 2012 | BUSINESS SALE
Mining operator ATH Resources is being put up for sale after failing to find a refinancing solution.
The troubled business has five mines in Scotland and employs 330 people across its operations in Fife, Ayrshire and Dumfries and Galloway, and its head office in Doncaster.
But the business has hit difficult times and advisors from Deloitte are not hopeful of saving the firm without a sale. The accountancy firm has been requested to advise on "all restructuring options" available, but it is thought “unlikely” that shareholder value will be maintained ahead of the restructure.
Proposals are being welcomed from those looking to buy a business or invest in the future of ATH Resources.
A statement from the mining company's board said: "Consultations with key stakeholders, including the company's lenders, are continuing, but developments over the past week have led the directors to believe that the company is unlikely to attract the level of capital required to continue operating without a restructuring of the group.
"Given the level of liabilities within the company, it is unlikely that shareholder value will be maintained following any possible restructuring."
A concept which led to revolutionizing the restaurant industry, offering an efficient and profitable approach to food production and targeted marketing.
Their versatile offerings include custom rafted joinery products such as elegant doorsets, stylish TV and media units, functional desks, ingenious shelving and storage solutions, luxurious bed surrounds, stunning timber staircases, sophisticated engi...
As a specialist in Italian Motorcycle Parts and Accessories supplies, the business has developed expertise in sourcing and offering a comprehensive range of high-quality products.
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
17
|
May
|
Brown & Brown acquires two insurance brokers | BUSINESS SALE
Brown & Brown (Europe) has continued its acquisitive activit...
01
|
Dec
|
Arcadia collapses into administration | ADMINISTRATION
Sir Philip Green’s Arcadia, the group behind retailers...
15
|
Oct
|
Gourmet Burger Kitchen acquired by Boparan in deal that sees 26 sites close | BUSINESS SALE
Gourmet Burger Kitchen has been acquired by Boparan Restaura...
23
|
Sep
|
Cartwright Group enters administration, but fleet and rental arms are sold | ADMINISTRATION
Commercial trailer manufacturer and rentals firm Cartwright ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.