Dyson debt negotiations progressing well
YORKSHIRE materials technology firm Dyson has reported “significant progress” in agreeing a solvent debt and capital restructuring with its banks and key stakeholders.
The firm said that it had also experienced encouraging trading momentum over the last three months within Saffil – the group’s principal remaining operating business.
Dyson, which last December sold loss making subsidiary Kilm Furniture for £1, reported that operational restructuring of the business was progressing well.
It also confirmed the appointment of Julian Cooper as interim chief executive and the resignation of Dr Krishnamurthy Rajagopal as non-executive director.
Christoper Honeyborne, group chairman, said that the board intended to write to shareholders with a set of proposals regarding ongoing negotiations when detailed terms had been agreed.
“At the same time the operational restructuring of the Group is progressing well,” he added.
“Trading within Saffil has now started to show clear signs of improvement which is particularly pleasing and testament to the real strengths of that business.”
