Revenue downturn hits manufacturer placed into administration
Revenue downturn hits manufacturer placed into administration
A historic manufacturer has been placed in administration which has seen almost half of its staff already axed.
Coventry-based Covrad Heat Transfer, whose roots in the city can be traced back to 1886, specialises in heat transfer equipment, serving the power, rail, marine, oil and gas, and off-highway markets.
But administrators said it had suffered a downturn in revenue as a result of the…
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