Hampson Industries, the defence and aeronautics firm, has put the 'for sale' sign up as it wallows in debts that are nearly five times its market capitalisation.
Hamspson owes £54.9m but that is not its only problem; delays in its largest tooling order will mean some deliveries will move from 2012 to 2013. The company says it is "assessing the overall effect on revenue and profit in the light of on-going discussions with the customer".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company put up its BHW Components and India operations on the market in November, it has already received indicative offers for those assets although discussions remain at an "early stage".
Unsurprisingly the share price has fallen this morning, at 11:59 the stock had lost 43% of its value.
Investors who bought shares in Hampson 12 months ago would now be 88% down.
BS
-
73% of savers plan to rely on partner’s pension in retirementA new survey suggests the majority of people may lack financial independence in retirement, with almost three-quarters set to rely on their partner’s pension
-
How much you need to follow the 25x retirement rule – will you have enough to be financially independent?We explain what the 25x retirement rule is and the amount you would need to be financially independent in retirement.
