Drop in Somali pirate attacks sparked Drum Cussac Administration

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A “rapid decline in the market demand”, in part brought about by a reduction in the number of attacks on shipping vessels by Somali pirates, contributed to the administration of Poole-headquartered risk management company Drum Cussac, a new report has revealed.

But the business, which is now owned by Root Capital, has an “exciting future” ahead of it with the turnaround investor setting aside £7m to aid future growth.

Insider reported in February that Will Wright and Mark Orton of KPMG were appointed joint administrators of DC RMS Ltd and DC RMS Holdings Ltd. The companies specialised in the security of people and assets.

To read the entire article, please click here.

Source: http://www.insidermedia.com

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