DCD Marine enters voluntary business rescue

The board of Cape Town based DCD Marine – a member of the DCD Group – has put the business into voluntary business rescue after 18 months of very difficult trading conditions. According to DCD Group Chief Executive Officer Digby Glover, DCD Marine was focused predominantly on the oil and gas market, which has contracted massively due to low global oil prices. The business rescue process allows the business some room to negotiate with stakeholders, so it can take appropriate actions that put the business in a more positive position.  “The intention of this process is to give the business the best possible chance of trading through these difficult conditions,” said Glover. “The intention is to keep the business alive and to save jobs; if there was no chance of DCD Marine making it through this difficult time, the business rescue route could not have been taken.”