Companies That You Expect to Disappear Soon

[Snow1964]

It seems another railway supplier, Solo Rail Solutions, that had Derby as a customer has issued notice of intention to appoint Administrators

A railway equipment supplier in Birmingham is facing an uncertain future, TheBusinessDesk.com understands.

Solo Rail Solutions, which has its headquarters in Nechells but also has a base in Saltley, has posted a notice of intention to appoint administrators via law firm The Wilkes Partnership. The move will protect Solo Rail Solutions from creditor action for a period of ten days while the company tries to find a way forward.

Solo Rail Solutions manufacturers and assembles interiors, seating, doors and ancillary products for trains. The firm was established in 1992 and one of its main customers has been Bombardier, which was bought by Alstom. The future of Alstom Derby plant is currently unclear after work dried up at the factory.

According to its latest available accounts, made up to 30 June 2022, Solo employ 92 people and has assets of just over £4.9m.

Earlier this month, Solo told Companies House it was extending the filing of its June 2023 annual results to include trading up to the end of last year.

Rail firm heading for the sidings as administrators alerted | TheBusinessDesk.com

The company has posted a notice of intention to appoint administrators as rail supply chain's struggles continue

www.thebusinessdesk.com

 

[johntea]

Aziz Tayub has seemingly now retired from running Poundstretcher and flogged the business to Fortress (a US investment firm), new operations team seems to consist of a few ex Morrisons management staff

Will be interesting to see if they can make a go of actually sorting the business out and making it a serious competitor in the (now extremely crowded!) discount retailer sector

Can Fortress unlock the potential within Poundstretcher?

After a 'choppy' few years of restructuring, store closures, and multiple CEOs, can Majestic Wine owner Fortress steady the Poundstretcher ship?

www.thegrocer.co.uk

After a ‘choppy’ few years of restructuring, store closures, and multiple CEOs, can Majestic Wine owner Fortress steady the Poundstretcher ship?

Fortress, the US investment firm that turned around Majestic Wine and was outbid for Morrisons by Clayton Dubilier & Rice, has a new challenge on its hands, having last week acquired Poundstretcher.

Out goes Poundstretcher owner Aziz Tayub, into retirement, having controlled the chain since 2008. In comes former Morrisons group commercial director Andy Atkinson as Poundstretcher CEO, while former Morrisons operating and finance chief Trevor Strain will join the board in a non-executive capacity once the transaction completes.

Tristan Phillips, who was appointed Poundstretcher CEO last year, will resume his former role as chief financial officer.

So what is in store for the new management? And for Poundstretcher and its staff?