Sondrel hunts for cash after payments and wages are delayed
Two thirds of workers agreed to defer being paid their wages over Christmas after an “unexpected delay” in receiving money from a client
Workers at Sondrel agreed to defer being paid their wages over Christmas
NOT KNOWN, CLEAR WITH PICTURE DESK
Sondrel is urgently trying to raise cash after payments from customers were delayed amid a row about whether the listed semiconductor business had hit agreed project milestones.
Two thirds of workers at Sondrel agreed to defer being paid their wages over Christmas and others agreed to take a partial wage cut, with the company saying it could not afford to meet all its salaries owing to an “unexpected delay” in receiving money from a client.
Graham Curren, its chief executive, said that staff should be paid for December in the next couple of weeks. The Reading-based company employs 159 people, with about third of them in Britain, a third in India and a third in Morocco, with a handful in the United States and China.
