Besco rescue looks imminent
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E A rescue package for troubled bodybuilder Besco could be finalised this week.
Founder and managing director Don Wilson says he is in "advanced negotiations with a funding organisation" which will solve the company's serious cash-flow problems. Wilson says the problems started when Besco was hit by the slump in the bodybuilding market earlier this year: "From mid-August to mid-October we hardly took a single order."
But the situation has AIproved and Besco now has a5m worth of orders from
customers including British Rail and the Post Office, and Wilson is confident that Besco has weathered the worst patch: "We'll trade out of this unhappy situation," he says. Northampton-based Besco, which cut 14 jobs from its production line earlier this month, turned over £4.5m worth of business in its last financial year—but made no profit. The company pioneered the 855750 quality standard and has been responsible for many innovative designs, including the areodynarnics featured on the "Green" Post Office van.