Jobs at risk as Worcestershire defence firm enters administration
DEFENCE sector engineering firm Dytecna has gone into administration leaving its 150 employees anxious about their future.
Specialist restructuring and advisory firm FRP Advisory’s Philip Watkins and Geoff Rowley has been appointed joint administrators and are marketing the business for sale as a going concern.
The company is headquartered in the Malvern Hills Science Park and operates from two further sites in Welshpool and Fareham.
It will continue to trade while the joint administrators manage the company and liaisewith stakeholders.
They say they will conduct a thorough sales process of the business as part of efforts to secure a long term viable solution.
Despite a loyal customer base and a long and profitable trading history, Dytecha has recently faced a deterioration in trading which had put unsustainable pressure on the business under its current financial structure.
Efforts to bring in external investment failed to materialise leaving the company with no option but to seek the protection of administration, while seeking new investment and a buyer.
Joint administrator Watkins said: “We are highly focused on working with Dytecna’s staff, customers and suppliers and engaging with interested parties, while seeking a suitable buyer.
“The business maintains a strong order book and will aim to continue to deliver the high level of service for which the business is known.
“We would invite interested parties to make early contact.”
Dytecna is a business with its roots tracing back to 1947. The company’s projects have included engineering solutions for wastewater treatment for battlefield and refugee camp situations.
