Dutch Imtech enters administration
Royal Imtech, the Dutch engineering services company, has filed for and been granted protection from creditors by a Dutch court, it said on Tuesday.
The move comes just days after Imtech’s German subsidiary, its largest, filed for insolvency.
“Filing for suspension of payments now may optimise the chances that substantial parts of the Imtech Group may continue in the interest of all stakeholders and specifically our employees,” the company said in a statement.
A spokesman for Imtech UK and Ireland said: “An announcement has been made today by Royal Imtech NV that means some change for Imtech UK and Ireland.
“Royal Imtech NV has announced that Administrators have been appointed to Royal Imtech NV under Dutch law.
“Imtech UK and Ireland continues to trade and is not subject to this administration.
“Imtech UK and Ireland now operates under the sole control of the UK management and we are continuing to trade.
“While continuing our business we are also assessing longer-term options and in discussions with interested parties.”