Now it’s official…
As the old saying goes “where’s there’s smoke there’s a fire” - allegedly 
This was mentioned on the site a few weeks ago was it not 
- allegedly
We should open a “book” to see who’s next 
Just put in a bid of £30, seing as the value of the company has decreased. It was however very good of the holding company to write off £74 million, making the company worth zero.
I would have thought that if the company was trading as a viable company, making very good profits, why would they want 1. to sell it. 2. invite foreign investment.
Maybe it was because the previous owners, who became the new owners m/d`s had access to the books, and trading practices, and saw that they couldnt line their pockets enough, without further investment, which they declined to do.
And so another good company will, i believe go to the wall eventually.
Who knows, could be a good opportunity for some investment from the UK to get back into the company!
Although I imagine the Iron Rod of commercial moderation will come down and close this topic soon, we had an official statement saying everything was hunky-dory at Innov@te didn’t we? 
Why would the “iron rod of commercial moderation” close this thread dwn when it’s in the public domain…■■
No secrets here 
We are aware of this story, and have people deciphering the PR speak into plain English
As said before you can discuss and talk about FACTS that can be verified, what we can no longer allow is wild speculation and rumour.
Speculation and rumour has to be, and will be deleted.
Rikki-UK:
We are aware of this story, and have people deciphering the PR speak into plain EnglishAs said before you can discuss and talk about FACTS that can be verified, what we can no longer allow is wild speculation and rumour.
Speculation and rumour has to be, and will be deleted.
Given the challenging economic outlook in the UK and following a detailed review by Eimskip’s Board of Directors in recent weeks, the Board chose not to increase Eimskip’s investment in Innovate and subsequently decided to write off Innovate’s assets and look for potential buyers.
That seems plain enough
Does to me too,
and as long as this thread remains on what the press release does say and not speculate on anything else then its fine…
can’t “decypher” myself whether that second paragraph is hinting that eimskip were sold a pig in a poke, or whether their own people got it wrong, and therefore presumably don’t know their “assumptions” from their elbows
Given the challenging economic outlook in the UK and following a detailed review by Eimskip’s Board of Directors in recent weeks, the Board chose not to increase Eimskip’s investment in Innovate and subsequently decided to write off Innovate’s assets and look for potential buyers.
= Innov@te is toast.
who do you think will buy them out then?
this is purely speculation and guesses.
i have a feeling it might be big bad eddie.
what are your thoughts?
Giblsa:
who do you think will buy them out then?this is purely speculation and guesses.
i have a feeling it might be big bad eddie.what are your thoughts?
Prestons of Potto 
oh well you cant be right all the time, i thought we was doing o.k , 
well one thing is for sure, the original founders have made a quid or two but how can ye just write of 74 million Euro ?
So ye think they will be yaken over or just broke up ? They did buy out quite a few companies!!!
Part of the press release takes the biscuit:
“Priority has been placed on ensuring minimal impact for customers, suppliers and financial partners”
All very well but no thoughts whatsoever for about 2500 employees… 
As for who takes on their work Eimskip are obviously going to try to get someone to take the business on as a going concern (as much as they can) so that they can minimise what would be a huge outlay in redundancy payments if the company folded.
I am sure there will be speculation and rumour but the number of companies that could take this on is probably in single figures, you just have to use your head to imagine who might be in the frame…
Simon71:
Part of the press release takes the biscuit:“Priority has been placed on ensuring minimal impact for customers, suppliers and financial partners”
I am sure there will be speculation and rumour but the number of companies that could take this on is probably in single figures, you just have to use your head to imagine who might be in the frame…
Have all those new FH12 been delivered by Volvo in Rotherham yet?
I am sure there will be speculation and rumour but the number of companies that could take this on is probably in single figures, you just have to use your head to imagine who might be in the frame…
Stobarts, Fowler Welch, Pulleyn,McBurneys!!!.. 
routier:
I am sure there will be speculation and rumour but the number of companies that could take this on is probably in single figures, you just have to use your head to imagine who might be in the frame…
Stobarts, Fowler Welch, Pulleyn,McBurneys!!!..
Pekaes, Wabberers, Willi Betz, Turners, Derijke.
Without Glyn Davies that is still single figures.
Simon71:
All very well but no thoughts whatsoever for about 2500 employees…
that had crossed my mind too, but i dismissed it as normal in this day and age
Simon71:
As for who takes on their work Eimskip are obviously going to try to get someone to take the business on as a going concern (as much as they can) so that they can minimise what would be a huge outlay in redundancy payments if the company folded
can’t see even the total of redundancies including those under TUPE being even a drop at the side of £74m anyway - minor concern for them i’d think