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Clugston fails to find NMI buyer

22nd October 1992, Page 12
22nd October 1992
Page 12
Page 12, 22nd October 1992 — Clugston fails to find NMI buyer
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Which of the following most accurately describes the problem?

• NMI Truck Bodies, the Barnsley-based truck bodybuilder and body repairer, is to close at the end of the month making 34 staff redundant.

Parent company Clugston has been unsuccessful in finding a buyer for NMI which it acquired in 1988. It says a lack of contract orders and the recession in the bodybuilding industry have led to the pending closure.

At the end of July Clugston closed an NMI leased site in South Yorkshire, and laid off 12 staff. It still wants to find a buyer for its Barnsley site, and the equipment and stocks.

NMI accounts for about 1% of Clugston's turnover.