Break-up fears for Doncasters

ONE of Britain’s oldest firms could be broken up and sold off piecemeal – leaving its 3,200 workers facing an uncertain future.

Engineering company Doncasters, which dates back to 1778, reportedly faces a dramatic split to prevent its collapse. The firm has been floundering under £600m of debt, which could bring it down without drastic action.

Doncasters’ lenders – which include New York hedge fund Brigade Capital as well as private equity firms CVC and Carlyle – are said to have effectively taken control from its current owner, sovereign wealth fund Dubai international Capital.

The firm faces being split up into as many as eight parts to pay off its loans, The sunday Telegraph reported. Founded in sheffield during the early days of the steel industry, it has 3,200 staff in locations across England and Wales and in its international divisions.