Chamberlin plc (GB:CMH) has released an update.
Chamberlin plc, the specialist castings and machining group, has announced that despite efforts to reduce costs and increase customer prices, pressures from creditors and banks, coupled with lost sales revenue, have led to the decision to commence an insolvency process. CEO Kevin Price expressed deep regret over the decision, which comes after the failure to secure necessary funding for the business’s stability. Further updates will be provided as the situation evolves.
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