27
Apr
12:15
UK steel distributor continues operations after pre-pack sale
UK-based steel service centre and distributor Bemaco Steel, which was declared insolvent last month, has been acquired through a pre-pack administration process by FXSteel for £4.6 million ($5.8m). The latter is a connected party, Kallanish notes.
The accelerated sale of the Cardiff-based business, which became insolvent after a ruling against the firm in a contractual case, was managed by business advisory firm FRP.
Under the deal, the business will c…
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Very good overview of the weekly steel market.
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