PracticeConsultingSecond bid tabled for ailing shipyard

Second bid tabled for ailing shipyard

PricewaterhouseCoopers has received a second concrete offer from a former management team for the Birkenhead and Tyneside yards, part of Cammell Laird, the shipyard group in receivership.

The group of three former directors led by John Syvret, Cammell’s former group operations director, has secured financial backing from the investment firm Aberdeen Murray Johnstone Private Equity.

The other directors are Brett Martin, development director and Tom Williams, former engineering director.

More bids could come into play, but workers’ growing anger at redundancies and loss of work to rivals may influence PwC to take up one of the firm bids soon.If the offer is accepted, the yards could be re-opened by the end of the month, according to regional reports.

A further 24 job cuts were announced yesterday following the 42 announced on Monday. Around 200 employees remain from a workforce of 4,000 before the company went into receivership in April after the loss of a £50m Italian cruise ship contract.

Links

Bid for Cammell could save jobs

Receivers cut more jobs at Cammell

Still hope for Cammell Laird buyer

Blue cross day for troubled Cammell Laird shipyards

Call for better staff deal in insolvencies

PwC finds buyer for troubled shipyard

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer