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Widney

  • BY: Andrew Hore |
  • POSTED: 12/03/2009 |

Engineer Widney has appointed BDO Stoy Hayward as administrators.

BDO is performing the same function for two of the holding company’s subsidiaries.

The shares were suspended on 13 February 2009 at 2p a share, which valued Widney at £520,000. A cash call was pulled because trading had deteriorated. It appears that potential investors should be pleased with the board for taking that difficult decision.

Widney could not find any more funding so could not continue to trade. The businesses and assets are likely to be sold.

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