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Australian engineer RCR in administration

Former mid-tier Australian engineering services company RCR Tomlinson (ASX: RCR) has called in administrators McGrathNicol after it failed to secure additional funding following cost blow-outs on solar projects and apparently lost the backing not only of its lenders but key shareholders as its share price cratered.

Haydn Black
RCR worked at Pilgangoora in Western Australia

RCR worked at Pilgangoora in Western Australia

The company was understood to be seeking additional funds from its lending syndicate, led by the Commonwealth Bank of Australia just weeks after an emergency A$100 million capital raising  - and it seems...

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