Accountant PricewaterhouseCoopers (PwC) has sold one of two companies that were still trading in the drilling arm of collapsed Aberdeen company Sovereign Oilfield Group, it emerged yesterday.
future trading performance
Hopes are rising for the future prospects of the 400 people who work for troubled Aberdeen-based Sovereign Oilfield Group.
An administrator for Aberdeen's Sovereign Oilfield Group has already begun to have meetings with possible buyers of its main fabrication businesses.
The 400 people who work for Aberdeen's troubled Sovereign Oilfield Group face an anxious wait after administrators were called in yesterday.
Sovereign Oilfield Group saw its shares dive 50% yesterday after warning investors it was uncertain its future trading performance would be able to support current debt levels.