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December 2017

Credit and competition to blame for Misco UK demise

Attempts to breathe new life into Misco UK have failed with the firm going into administration with most of the firm's staff being made redundant. Over the past seven months the firm had been attempting to turnaround its fortunes under the leadership of a management team headed up by CEO Alan Cantwell and with the backing of restructuring specialist Hilco Capital. During that period the firm closed its sales office in Watford making bidding farewell to some staff but had also invested in a NetSuite ERP system to try and gain sales efficiences across the organisation. The last time Cantwell spoke to MicroScope a couple of weeks ago he talked of the pain and the challenges that had been a feature of the first six months but was more optimistic about the future. That optimism has ended with  the loss of around 330 jobs, with 30 of the original workforce being retained to help man the Wellingborough headquarters and the Greenock warehouse, and the end of trading for the Misco operation in the UK. Geoff Rowley, Tom MacLennan and John...

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