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Wealthy Businessman Steps in to Rescue the Struggling Firm He Sold for £36m

Alun Griffiths, a Welsh businessman, has stepped in to buy back his construction company which he sold for £36 million in 2018.
The company faced financial difficulties including a £95 million pre-tax loss and delayed account filings, prompting the rescue.
Griffiths plans to refocus the firm on strengths such as safety and engineering by returning key leaders and ensuring a smooth transition.
The company employs over 900 people, and the rescue is expected to protect hundreds of jobs and ongoing infrastructure projects.
This acquisition suggests a stabilizing move for the company and highlights Griffiths' commitment as a local philanthropist to its future.

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Wales Online

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Wealthy businessman steps in to rescue the struggling firm he sold for £36m

The move could save hundreds of jobs at the firm that is behind the dualling of the Heads of the Valleys road

3 days ago·Wales, United Kingdom

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der Standard AT

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Rescue for KTM Approaches: Money for Creditors Is Set Up

KTM's mother Pierer Mobility AG announced that it had the financial commitment for the approximately 600 million euros to save the motorcycle manufacturer from bankruptcy

3 days ago·Vienna, Austria

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Kronen Zeitung

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Saved! KTM Submits Commitment for Renovation

Good news from the economy: According to KTM, the insolvent motorcycle manufacturer has sufficient financial commitments to fulfil the quota in insolvency proceedings. This could make the necessary payments by May 23. As the "Krone" reported, the Indian co-owner is expected to be the savior in need – and for around 1000 employees alone in Mattighofen (OÖ). In the middle of the night on Tuesday, the listed Pierer Mobility AG dropped the bomb via …

3 days ago·Vienna, Austria

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Die Presse

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KTM Rescue Is Approaching, but Is Production Moving to Asia for This?

Only days before the end of the deadline, the Indian KTM shareholder Bajaj secures a loan for most of the money needed for the renovation. But what does this mean for the plant in Austria?

4 days ago·Vienna, Austria

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manager magazin

KTM: Indian Company Secures Financing and Saves Motorcycle Manufacturer

KTM and former CEO Stefan Pierer breathe a sigh of relief: The insolvency administrator has received the necessary financing commitments amounting to 600 million euros. It remains unclear when production will restart and how many jobs will be retained. Pierer will likely have to relinquish power.

2 days ago

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RideApart.com

KTM Says It's Been Saved Again, Only Had a Few Days Left

In an official notification to investors, KTM's parent company confirmed that it now has the money it needs to save itself by the deadline. Where did it come from?

3 days ago

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