- This topic has 1 reply, 1 voice, and was last updated 20 years, 4 months ago by
.
- Posts
Obviosly not where the revenue is going!!
Nearly half the workforce has been axed at a Kidderminster firm which designs and makes speed cameras after administrators were called in.
The shock news comes only four months after bosses at Monitron International’s premises, at Birchen Coppice Trading Estate, welcomed HRH The Duke of Kent to show off a £1 million investment.
Allan Graham and Mark Orton of Birmingham-based administrators KPMG were called in to handle the company’s affairs on Tuesday. KPMG has made 45 workers redundant out of the firm’s 105 employees.
Cash flow problems have been cited by the administrators as the reason for Monitron’s decline.
Mr Graham said: “The business is at the forefront of development within the traffic systems industry but has been suffering from cash flow problems.
Best Regards
Stuart XV16
Please note that some of the comments and articles posted may not represent my views or the views of FORUM99 and its moderators.
HELP KEEP THIS FORUM ALIVE! PLEASE DONATE.
- You must be logged in to reply to this topic.