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New company needs money

7th February 1991
Page 20
Page 20, 7th February 1991 — New company needs money
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Which of the following most accurately describes the problem?

• Donald Wilson, former managing director of failed bodybuilder Besco, is close to setting up a new company in Northampton.

He is seeking backing for thf venture, which he plans to call Barham Bodies — Barham was a subsidiary of Besco, which went into receivership late last year.

Wilson, who says he "caught a big personal cold" with the collapse of his former corn.pany, wants to concentrate on general bodywork, repairs and his former speciality, aerodynamic design. Besco was developing a streamlined body fol. the Royal Mail when it went under.

Wilson initially expects to employ about 10; at its peak Besco employed 70. If he fails to raise the cash to start the firm Wilson says he will take up one of the several job and consultancy offers he has received.