Alchemy has no magic formula for Cammell Laird

The private equity firm will bring shipbuilding to an end at the troubled yard if its £30m bid is successful.

Alchemy will end shipbuilding and ship conversion at stricken yard Cammell Laird if its £30m bid for the company is successful.

Jon Moulton, Alchemy’s managing partner, said in The Times that Cammell Laird’s ambition had exceeded its capabilities, resulting in receivership. He said that the yard could not sustain big orders.

Alchemy will meet the directors of Cammell Laird this week to discuss the bid.