CityCyclingEdinburgh Forum » Cycling News
"Liberty House expands bike portfolio with purchase of Shand Cycles"
(11 posts)-
Posted 6 years ago #
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Wow
Posted 6 years ago # -
If you've got to be bought out ('acquired'), that seems like a surprisingly sympathetic way for it to happen. fascinating turn of events for british manufacturing...
Posted 6 years ago # -
“If you've got to be bought out”
Doubt if they had to be.
Posted 6 years ago # -
“fascinating turn of events for british manufacturing...”
Not the only one in the bike industry -
“
The HGD aims to bring together the best designers and innovators in the bicycle industry from around the world to develop the next generation of bike designs using the very latest technology. It will rationalise the global company’s design functions, bringing together in one place its design, product development, innovation, testing and market research departments.
“
Brompton too.
Posted 6 years ago # -
Posted 6 years ago #
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Unions fear huge job losses as 'saviour of steel' hits crisis
https://www.bbc.co.uk/news/business-56250732
ScotGov also saw fit to guarantee £575 million of the company’s debt...
https://www.google.co.uk/amp/s/mobile.reuters.com/article/amp/idUKKCN1T7006
Posted 3 years ago # -
Shand have their accounts to 31st March 2020 filed on October 2020. So they are good (for now).
Presumably any administrators of the Gupta empire would find it very easy to find a new owner for Shand.
Posted 3 years ago # -
“
Myners said the ultimate cost could be “in the region of £3bn to £5bn” once the wider impact was taken into account. ”It’s actually going to cost a lot more if you count the externalities, the indirect costs: the cost of having to rescue the steel industry from its ‘saviour’ Mr Gupta; the costs of dealing with social implications of the closure of plants, if necessary; or the net present value of upfront subsidies to keep the steel industry in its current form operating,” he said.
Gupta’s sprawling holding company, GFG Alliance, which owns Liberty Steel, relied heavily on Greensill financing, and reportedly owed the lender £3.6bn when it collapsed. The group has so far failed to find new funding, forcing Gupta to pause production at UK factories to preserve cash last month.
“
Posted 2 years ago #
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